Circle Adds Shared cirBTC Access Across Ethereum and Arc
Photo: TokenPost
Circle’s Gateway service now supports Circle Wrapped Bitcoin (cirBTC) on Ethereum and Arc, giving users cross-chain access to the Bitcoin-backed token. The Oct. 23 expansion also added the euro-backed stablecoin EURC to the service. Gateway maintains a separate balance for each asset. To move cirBTC between supported networks, the service burns the token on the source blockchain and mints the same asset on the destination. The process moves the token representation, not native Bitcoin (BTC) between networks. cirBTC represents Bitcoin on smart-contract networks and is backed one-to-one by BTC.
Source: TokenPost
