Circle Launches cirBTC, a 1:1 Bitcoin-Backed Token on Ethereum

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Circle has launched cirBTC, a 1:1 Bitcoin-backed token on Ethereum, providing institutional DeFi markets with a transparent collateral option. The token is fully backed by native BTC held by Circle and utilizes Chainlink’s Reserve Proof for on-chain reserve transparency. Users can mint and redeem cirBTC through Circle Mint, using a model similar to USDC. The project plans to expand to multiple chains via Arc, aligning with Ethereum’s trends in token innovation.

According to official announcements, Circle has launched cirBTC on Ethereum, providing 1:1 Bitcoin-backed collateral for the institutional DeFi market. cirBTC is backed 1:1 by native BTC held in custody by Circle and features on-chain transparency through Chainlink Proof of Reserve. Users can mint and redeem cirBTC via Circle Mint, operating under the same model as USDC. In the future, cirBTC will expand to multiple chains via Arc.

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