Circle Unlocks CirBTC for All Customers on Ethereum

Circle has made its tokenized version of Bitcoin, cirBTC, available to all customers on Ethereum through Circle Mint. This expansion allows institutions to easily bring their BTC holdings into Ethereum-based decentralized finance (DeFi) applications without directly selling them.

The underlying Bitcoin is custodied by Circle National Trust, a federally chartered national trust bank and qualified custodian supervised by the OCC. cirBTC provides exclusive benefits to token holders and keeps assets separate from Circle's corporate assets.

Circle plans to integrate its workflow further, allowing users to deposit Bitcoin, mint cirBTC, and borrow USDC through Circle Mint and its Arc blockchain. The company also aims to expand cirBTC to Arc and support it across multiple blockchain networks.