Key Takeaways
Circle launched cirBTC, a 1:1 Bitcoin-backed token featuring segregated custody and Chainlink Proof of Reserve.
According to BlockchainReporter, Circle announced the launch of Circle Wrapped Bitcoin (cirBTC) on September 4, 2026. The token is backed one-to-one by native Bitcoin and is redeemable for it, operating as a wrapped token rather than a staked or derivative product.
The underlying Bitcoin is held through a Circle affiliate and custodied by Circle National Trust, a federally chartered national trust bank supervised by the Office of the Comptroller of the Currency. These reserves are held in accounts segregated from corporate assets for the exclusive benefit of cirBTC holders. The token is issued by Circle International Bermuda Limited, a Class F Digital Asset Business licensed by the Bermuda Monetary Authority.
To provide verifiable backing, Circle connects native BTC held in disclosed reserve addresses, onchain reserve values published via Chainlink Proof of Reserve, and the circulating cirBTC supply across supported networks.
cirBTC is live on Ethereum, with native support planned for Circle's Arc layer-1 blockchain upon its mainnet launch, alongside additional network integrations over time.
Source & Fact-Check Note
This report is synthesized from coverage by BlockchainReporter. Information has been fact-checked and structured for market clarity by CoinQuickly’s research desk.
Read original article at BlockchainReporter ↗
