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Crypto

Circle Launches cirBTC Institutional-Grade Collateral Product

Guavy AI Editorial Team
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Circle has launched cirBTC, a wrapped Bitcoin product designed to provide institutional-grade collateral for DeFi lending and borrowing markets.

cirBTC is backed 1:1 by native BTC and redeemable through Circle's infrastructure, addressing key risks in DeFi such as custody vulnerabilities and redemption delays.

Circle uses Chainlink's Proof of Reserve to provide real-time onchain verification of reserves, a step beyond traditional monthly attestations.

cirBTC has launched on Ethereum and Arc, a permissioned blockchain, with plans for multichain deployment, aiming to create a seamless ecosystem for institutional DeFi.

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