Breaking?! Circle Launches cirBTC#Circle on Ethereum
Circle (the issuer of USDC) has just rolled out cirBTC—a 1:1 Bitcoin-backed wrapped token on Ethereum, directly competing with Coinbase's cbBTC and wBTC. #btccoin
Currently, it's primarily backed 1:1 by native BTC, held by the regulated entity Circle, with reserves verified by Chainlink, ensuring on-chain transparency. In simpler terms, it's designed specifically for institutional DeFi: lending, DEX, RWA, but it doesn’t clash with competing CEX/DEX. #DEFİ
Total Wrapped Market Cap: $12.5-13.5 billion $BTC
Circle (the issuer of USDC) has just rolled out cirBTC—a 1:1 Bitcoin-backed wrapped token on Ethereum, directly competing with Coinbase's cbBTC and wBTC. #btccoin
Currently, it's primarily backed 1:1 by native BTC, held by the regulated entity Circle, with reserves verified by Chainlink, ensuring on-chain transparency. In simpler terms, it's designed specifically for institutional DeFi: lending, DEX, RWA, but it doesn’t clash with competing CEX/DEX. #DEFİ
Total Wrapped Market Cap: $12.5-13.5 billion $BTC