Circle wants wrapped Bitcoin to look bank grade before institutions trust it as collateral
Circle has launched cirBTC on Ethereum, however the bigger play is to make wrapped Bitcoin look like collateral infrastructure institutions can route by DeFi, OTC desks, lending markets, treasury programs, market makers, and settlement flows. cirBTC is stay on Ethereum and backed 1:1 by native BTC, in accordance to Circle’s launch supplies. The firm says…
