Circle gives its Bitcoin-backed token one balance across Ethereum and Arc

Circle added its Bitcoin-backed token, cirBTC, to Gateway on Oct. 23, letting holders use one deposited balance across the Ethereum and Arc blockchains. Gateway treats deposits across supported networks as a single spendable balance per asset, reducing the need to keep funds ready on both chains, according to Circle’s announcement. The expansion also adds the EURC stablecoin alongside USDC. Circle’s asset-specific documentation lists cirBTC on Ethereum and Arc mainnet. EURC is supported on those networks plus Avalanche, Base, Solana and World Chain. Gateway keeps a separate balance for each asset. A cirBTC transfer burns the token on the source network and mints cirBTC on the destination; it neither converts the balance into USDC nor transfers native Bitcoin.

First reported by CryptoSlate. This page is a short excerpt; the full text is theirs.