Circle CEO: cirBTC to be Launched Soon, Custodied by Regulated Entity within the Group

BlockBeats News, May 22nd, Circle CEO Jeremy Allaire announced on social media that cirBTC is about to be launched. Circle Wrapped Bitcoin (abbreviated as cirBTC) is a tokenized BTC pegged 1:1 to native Bitcoin (BTC), issued by Circle on the Ethereum mainnet and the 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 umbrella.