Circle has launched its Wrapped Bitcoin product, cirBTC, which is designed to provide institutions with a highly secure and neutral version of wrapped BTC. cirBTC will be backed 1:1 by native BTC that can be readily verified onchain.
The product aims to integrate seamlessly into Circle's established infrastructure and the wider DeFi ecosystem. This integration will enable institutions to use cirBTC as a single, unified asset for all their financial needs.
cirBTC is designed with the same foundations as USDC and EURC, providing institutions with a secure and transparent way to interact with Bitcoin.