Circle Deploys cirBTC on Ethereum with 1:1 BTC Backing and Chainlink Proof of Reserve

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According to Circle's press release this week, Circle deployed cirBTC on Ethereum, a token backed 1:1 by native bitcoin held at a regulated Circle entity with segregated custody. The token leverages Chainlink Proof of Reserve, enabling institutions and counterparties to independently verify BTC holdings directly on the Bitcoin blockchain without relying on off-chain attestations. cirBTC enables BTC holders to use bitcoin as active collateral across Ethereum-based DeFi protocols without selling. Circle plans to integrate cirBTC with its Arc stablecoin finance infrastructure and expand to additional blockchains over time.
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