DeFi· ★★★· bullish·

Circle launches cirBTC: transparent wrapped bitcoin for institutions

  • —cirBTC reserves are segregated from Circle's corporate assets and cannot be rehypothecated
  • —Chainlink Proof of Reserve provides real-time on-chain verification of reserves instead of monthly attestations
  • —The tokenized bitcoin market has reached $15 billion, but there is no standardization of reserves
  • —WBTC previously moved some operations to Chainlink CCIP due to custody and governance issues
Why it matters: Transparent reserves and the absence of rehypothecation could accelerate institutional capital inflows into bitcoin-based DeFi.
#BTC#WBTC
Source: Blockchain.News
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