Post
Circle enters the Wrapped Bitcoin market with the cirBTC product targeting financial institutions.
Circle has just announced cirBTC, a wrapped Bitcoin version backed 1:1 by real BTC, issued on Ethereum and aimed at OTC exchanges, market makers, and institutional lending protocols.
Wrapped Bitcoin is a tool that allows Bitcoin, which only operates on its own blockchain, to be used within the DeFi ecosystem on Ethereum. The market is currently led by two names. BitGo's WBTC holds a market capitalization of approximately $8 billion, while Coinbase's cbBTC reaches $5.9 billion.
$STO
{future}(STOUSDT)
$SIREN
{future}(SIRENUSDT)
$AIOT
{future}(AIOTUSDT)
Circle has just announced cirBTC, a wrapped Bitcoin version backed 1:1 by real BTC, issued on Ethereum and aimed at OTC exchanges, market makers, and institutional lending protocols.
Wrapped Bitcoin is a tool that allows Bitcoin, which only operates on its own blockchain, to be used within the DeFi ecosystem on Ethereum. The market is currently led by two names. BitGo's WBTC holds a market capitalization of approximately $8 billion, while Coinbase's cbBTC reaches $5.9 billion.
$STO
{future}(STOUSDT)
$SIREN
{future}(SIRENUSDT)
$AIOT
{future}(AIOTUSDT)
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.