Circle has launched a wrapped Bitcoin, cirBTC, on the Ethereum network with a 1:1 backing.
cirBTC is live on @ethereum.
Circle helped establish the institutional standard for dollar collateral with USDC.
Now cirBTC brings that same approach to Bitcoin, bringing 1:1 BTC-backed collateral to institutional DeFi markets with neutrality, transparency, and Circle…
— Circle (@circle) June 8, 2026
The company positions cirBTC as an asset for institutional scenarios such as DeFi, OTC operations, market making, treasury transfers, and settlements.
According to the press release, the underlying asset is held by a regulated Circle entity and is separate from corporate funds. The issuance and redemption of the token are conducted through Circle Mint.
The coin is issued by Circle International Bermuda Limited, which holds a Class F license in the Bermuda jurisdiction.
Reserve transparency is confirmed through Chainlink Proof-of-Reserve.
In its blog, Circle described the Ethereum blockchain as a “suitable starting point.” Future plans include integrating cirBTC with the Arc solution and expanding into a multichain environment.
“The principle of neutrality is simple: the incentive for the issuer should be widespread adoption, not redirecting activity to a preferred trading platform,” the company emphasized.
In May, Circle raised $222 million through the sale of ARC tokens.