See how proof of reserves for wrapped assets works for cirBTC, live on Ethereum with Arc support coming soon, with Chainlink reserve data and verification.
- cirBTC introduces a new standard for wrapped Bitcoin (WBTC) by emphasizing 1:1 BTC backing, segregated custody, and verifiable on-chain reserve data.
- The system utilizes Chainlink Proof of Reserve to independently verify reserve information and publish it on-chain, allowing for continuous monitoring by protocols and risk systems.
- cirBTC is currently live on Ethereum and planned for Arc mainnet, aiming to provide institutions with a transparent and reliable way to assess the collateral backing of wrapped Bitcoin.
Topics: Asset types, Infrastructure providers, Transparency audits, Stablecoins digital cash, Custody security solutions, Proof of reserve
Tags: #cirbtc #wrappedbitcoin #proofofreserve #chainlink #ethereum #arc #segregatedcustody #circle #onchainverification #nativebtc
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