Circle is stepping into the growing wrapped Bitcoin market with its new asset, cirBTC — a 1:1 backed version of Bitcoin designed for institutional use. Built to operate on Ethereum and beyond, cirBTC aims to give institutions easier access to DeFi without sacrificing security or trust.

This move signals a bigger trend: traditional finance players aren’t just buying Bitcoin anymore — they want to use it. Wrapped assets bridge that gap, allowing Bitcoin to participate in lending, trading, and other decentralized applications across different blockchains.