Circle Launches cirBTC On Ethereum As New 1:1 Bitcoin-Backed DeFi Asset

Circle has launched cirBTC on Ethereum, giving the stablecoin issuer a direct entry into the wrapped Bitcoin market and setting up a new challenge to existing BTC-backed DeFi assets.TL;DRcirBTC is live on Ethereum and backed 1:1 by Bitcoin.Circle says the asset uses segregated custody and Chainlink Proof of Reserve.The product is issued through Circle’s Bermuda-regulated structure.Circle Enters Wrapped BitcoinWrapped Bitcoin products have become a key part of DeFi because they let BTC liqu