Circle Launches cirBTC, 1:1 Backed Bitcoin Token on Ethereum and Arc

CRCL3.13%
BTC-0.26%
According to BlockBeats, on May 22, Circle CEO Jeremy Allaire announced that Circle Wrapped Bitcoin (cirBTC) is launching on Ethereum and the Arc network. Each cirBTC token is 1:1 backed by native BTC held in reserve by regulated entities within the Circle group.
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