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Circle CEO: cirBTC is about to launch, hosted by a regulated entity within the group

BlockBeatNews
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BlockBeats News, May 22 — Circle CEO Jeremy Allaire announced on social media that cirBTC is about to launch. Circle Wrapped Bitcoin (abbreviated as cirBTC) is a tokenized BTC supported 1:1 by native Bitcoin (BTC), issued by Circle on the Ethereum mainnet and Arc network. Each cirBTC is backed by a 1:1 reserve of native BTC, which is held in custody by regulated entities under the Circle group.
BTC0.19%
WBTC1.46%
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ColdBrewYield
· 5h ago
1:1 reserve + regulated custody, this is much more reassuring than some shady WBTC options.
View OriginalReply0
SandwichBlockSam
· 10h ago
BTC interest earning + compliant custody, this combination maximizes appeal to traditional finance
View OriginalReply0
RetroRadioWaves
· 10h ago
What is the Arc network? I heard about it for the first time. Can someone knowledgeable give a quick explanation?
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BoredInBlockspace
· 10h ago
Circle finally entered the BTC space, cirBTC is an interesting name, sticking to the compliant route all the way through
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OwlAuthorizationMonitor
· 10h ago
cirBTC vs WBTC vs cbBTC: Stablecoin giants are starting to compete over Bitcoin-pegged tokens.
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NeonMint
· 10h ago
1:1 reserve talk sounds nice, but whether the audit report can be disclosed in real-time is the real issue
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YieldCartographer
· 10h ago
This move by Circle is brilliant, as it both captures BTC price gains and earns stablecoin transaction fees.
View OriginalReply0
UnderTheGlassDome
· 10h ago
The point about regulated entities holding custody is very important; even the SEC can't find any fault with it.
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LiquidityLullaby
· 10h ago
Native BTC reserves + Circle endorsement, will institutional funds flow in on a large scale?
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