Circle launches 1:1 bitcoin-backed token cirBTC
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According to official news, Circle announced that cirBTC has been launched on Ethereum, providing 1:1 Bitcoin-backed collateral for the institutional DeFi market. cirBTC is backed 1:1 by native BTC custodied by Circle and achieves on-chain transparency through Chainlink Proof of Reserves. Users can mint and redeem cirBTC via Circle Mint, and cirBTC operates under a unified model with USDC. In the future, cirBTC will expand to multiple chains via Arc.
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