Circle unveiled cirBTC, a token backed 1:1 by the world's largest cryptocurrency, to allow traders to use their bitcoin wealth in DeFi protocols. Circle's wrapped version of bitcoin is live on Ethereum as the stablecoin company takes on Coinbase for dominance of the synthetic BTC market. Circle is pitching cirBTC to institutions that focus their crypto allocation on bitcoin and may be familiar with Circle and trust its infrastructure because of its position in the stablecoin market. T…
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