Circle says cirBTC supply tops 5,000

Circle said on X that issuance of its wrapped Bitcoin token cirBTC has surpassed 5,000. Crypto Briefing said the figure had surged from about 40 in mid-August, indicating growing institutional demand for a regulated DeFi Bitcoin investment vehicle. Users can post cirBTC as collateral to borrow USDC without selling Bitcoin. Circle offers cirBTC on the Ethereum mainnet and its own blockchain, Arc.