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Circle: Tokenized Bitcoin cirBTC, backed 1:1 by native Bitcoin, is about to launch
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Circle CEO Jeremy Allaire announced on X that cirBTC is launching soon. Circle Wrapped Bitcoin (cirBTC) is a tokenized Bitcoin backed 1:1 by native Bitcoin, issued by Circle on the Ethereum mainnet and the Arc network. Each cirBTC is backed by a 1:1 reserve of native Bitcoin, held in custody by regulated entities under the Circle Group.