Circle, known for issuing stablecoins including USDC and EURC, is expanding into the Bitcoin space, targeting institutional users.
Stablecoin issuer Circle said it plans to launch its own version of a wrapped Bitcoin, which would put it against incumbents Coinbase and BitGo as it targets institutional users.
The asset, called cirBTC and announced on Thursday, is set to launch on Ethereum, backed 1:1 by bitcoin (BTC) and aimed at over-the-counter desks, market makers and lending protocols.
Circle said the asset is designed to provide institutions with a “highly secure and neutral version of wrapped BTC.”
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments