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Deep Tide TechFlow News, June 9th, according to official sources, Circle announced that cirBTC is now live on Ethereum. cirBTC is a 1:1 wrapped Bitcoin supported by native BTC, which can be used in lending protocols, over-the-counter trading, market making, fund management, and settlement in on-chain financial scenarios, allowing institutions to use it as collateral without selling BTC.
Circle stated that the related BTC is held by regulated entities and segregated from company assets; cirBTC reserves will be verifiable on-chain through Chainlink reserve proofs. The product is currently first deployed on Ethereum, with plans to integrate with Arc and a broader multi-chain roadmap in the future.