Circle adds Bitcoin-backed cirBTC to Gateway with one balance across Ethereum and Arc
- —Gateway treats cirBTC deposits on Ethereum and Arc as one spendable balance per asset
- —Circle advertises cross-chain access in under 500ms after deposit finality
- —A separate API-independent withdrawal route takes seven days
- —Gateway fees for cirBTC and EURC are waived on Arc at launch, 1 basis point elsewhere
Why it matters: A shared Bitcoin-token balance across chains simplifies liquidity for exchanges and wallets, though restricted mint access limits reach.
Source: CryptoSlate