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#GateSquareAprilPostingChallenge 🏦 Circle is preparing to launch cirBTC for the institutional market
Circle is developing cirBTC — its own 1:1 backed wrapped Bitcoin to be issued on the Ethereum network.
The company positions the asset as a “highly secure and neutral version of wrapped BTC” for institutional clients.
✅ So, cirBTC will compete with WBTC from BitGo and cbBTC from Coinbase.