Gate News message. April 3, Circle announced that it will soon launch Circle Wrapped Bitcoin (cirBTC), a tokenized Bitcoin product that is 1:1 backed by native BTC, designed specifically for the institutional market. The reserves for cirBTC can be independently verified in real time on-chain, and it is suitable for institutional scenarios such as OTC trading desks, market makers, and lending protocols. The product will first launch on Ethereum and the Arc platform, and in the future plans to expand to multi-chain ecosystems. It will also seamlessly integrate with Circle’s USDC, Arc, and Circle Mint to provide a complete end-to-end service. Currently, cirBTC has not been officially launched; it will need to wait for the relevant regulatory approvals to be completed.
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