Circle CEO: cirBTC is about to launch, managed by a regulated entity under the group

According to official news, Circle CEO Jeremy Allaire stated in a social media post that cirBTC is about to launch. Circle Wrapped Bitcoin (abbreviated as cirBTC) is a tokenized BTC that is 1:1 backed by native Bitcoin (BTC), issued by Circle on the Ethereum mainnet and Arc network.

Each cirBTC is supported by a reserve of 1:1 native BTC, which is held in custody by a regulated entity under the Circle group.