Circle: Tokenized Bitcoin cirBTC, backed 1:1 by native Bitcoin, is coming soon.

CoinFeed reported on May 22 that Circle CEO Jeremy Allaire announced on the X platform that cirBTC is about to launch. Circle Wrapped Bitcoin (cirBTC) is a tokenized Bitcoin backed 1:1 by native Bitcoin, issued by Circle on the Ethereum mainnet and Arc network. Each cirBTC is backed by a 1:1 reserve of native Bitcoin, which is held in custody by a regulated entity within the Circle Group.