DeFi· ★★★· neutral·

Circle sets seven-part test for institutional-grade wrapped assets

  • —Framework covers custody, reserves, redemption, compliance, resilience, governance and composability
  • —cirBTC is backed 1:1 by native BTC held at Circle National Trust
  • —Reserves are verified onchain via Chainlink Proof of Reserve instead of monthly attestations
  • —cirBTC is live on Arc and Ethereum, issued by Circle International Bermuda Limited
Why it matters: The standard sets a benchmark for assessing wrapped-asset risk, which matters for institutional capital flowing into tokenized bitcoin products.
#BTC
Source: Blockchain.News
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