Circle Unveils Institutional Wrapped Bitcoin Token to Compete in Growing Market

Circle, the leading provider of cryptocurrency infrastructure, has expanded its product lineup with the introduction of cirBTC, a wrapped Bitcoin token with 1:1 BTC reserves. The new digital asset is specifically designed for institutional markets, including over-the-counter trading desks, liquidity providers, and DeFi lending platforms.

Wrapped Bitcoin tokens enable Bitcoin to operate across alternative blockchain networks such as Ethereum, providing asset holders entry into decentralized finance ecosystems that remain inaccessible with standard Bitcoin. cirBTC will be deployed on Ethereum's blockchain infrastructure, Circle's proprietary Arc layer-1 blockchain, and the Circle Mint platform.