Circle has announced the launch of Circle Wrapped Bitcoin (cirBTC), a tokenized Bitcoin product aimed at institutional markets. Fully backed by native BTC, cirBTC offers real-time, on-chain verification of reserves, catering to institutional needs such as OTC desks, market makers, and lending protocols. Initially available on Ethereum and the Arc platform, Circle plans to expand cirBTC across multiple blockchains, integrating it with USDC, Arc, and Circle Mint for a comprehensive solution. The product is pending regulatory approval before going live.