Circle Introduces cirBTC for Institutional Markets: Circle announced plans to launch cirBTC, its own version of wrapped Bitcoin designed specifically for institutional participants. The token will be backed 1:1 by bitcoin and positioned as a secure and neutral wrapped BTC asset. The offering targets over-the-counter desks, market makers, lending protocols, and other institutional users. Circle stated that cirBTC aims to provide a reliable mechanism for accessing decentralized finance while maintaining full backing of the underlying asset.