Circle Launches cirBTC to Bring Bitcoin Into DeFi Markets
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Circle will launch cirBTC, a 1:1 BTC-backed token with real-time on-chain verifiable reserves to bring Bitcoin into DeFi and institutional trading. cirBTC aims to unlock an estimated $1.7T of idle BTC for DeFi lending, trading and borrowing and enters the $14B wrapped-BTC market (208K BTC supply) led by WBTC and cbBTC. The token launch targets increased Bitcoin DeFi adoption, on-chain liquidity and institutional flows, impacting crypto liquidity, DEX/CEX integrations and DeFi composability.
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- Circle plans to launch cirBTC, a 1:1 BTC-backed token for DeFi and institutions.
- cirBTC aims to unlock $1.7T BTC for DeFi lending, trading, and borrowing.
- cirBTC enters the $14B market, led by WBTC and cbBTC, with a 208K BTC supply.
Circle is moving beyond stablecoins with a new product aimed at unlocking Bitcoin liquidity. The firm plans to launch cirBTC, a wrapped Bitcoin token backed 1:1 by native BTC reserves.
The stablecoin company wants to bring Bitcoin into DeFi and institutional trading flows as BTC remains largely unused in decentralized finance.
cirBTC Targets Idle Bitcoin Liquidity
Over $1.7 trillion worth of BTC sits outside DeFi due to trust and custody concerns. cirBTC is designed to change that. Each token is fully backed by real Bitcoin, with reserves verifiable on-chain in real time.
The structure allows users to deploy BTC across lending,…
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In This News
Coins
$ 64.01K
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+0.44%$ 64.03K
+0.47%$ 0.0018
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