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Circle Introduces cirBTC, a 1:1 BTC-Backed Wrapped Bitcoin With Onchain Reserves
Circle has unveiled cirBTC, a wrapped bitcoin token backed 1:1 by native BTC and aimed at giving institutions verifiable onchain bitcoin exposure across DeFi and TradFi. The company says reserves will be independently checkable onchain in real time, and cirBTC is set to debut on Ethereum and Arc, with multichain support planned. The product is listed as “coming soon” with availability subject to regulatory approvals.