Circle's cirBTC: New Wrapped Bitcoin for Institutions
Bitcoin & Crypto News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Circle Unveils cirBTC: A New Wrapped Bitcoin for Institutions
Circle, the company behind stablecoins like USDC, is entering the wrapped Bitcoin market with cirBTC, a one-to-one backed version launching first on Ethereum. Targeting institutions like OTC desks, market makers, and lending protocols, cirBTC aims to provide a secure, neutral option for Bitcoin integration in decentralized finance spaces. Entering a crowded field led by BitGos WBTC and Coinbases cbBTC, Circles new offering joins the race to bridge the gap between Bitcoin and DeFi, allowing institutions to leverage Ethereums tools without selling their BTC holdings.
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