Circle has launched a Wrapped Bitcoin product on Ethereum and the Arc network, according to a Techub report citing Yahoo Finance. The product is designed to bring Bitcoin liquidity to more blockchain networks rather than keeping it confined to the Bitcoin ecosystem alone. Circle said the goal is to support use cases such as decentralized finance, or DeFi, where tokenized versions of Bitcoin can be used across smart contract platforms. The rollout adds Ethereum and Arc as the initial networks mentioned in the announcement and centers on expanding Bitcoin’s utility in multi-chain environments.
Circle has launched a Wrapped Bitcoin product on Ethereum and the Arc network, according to Techub, which cited Yahoo Finance.
The company said the product is intended to bring Bitcoin liquidity to more blockchain networks and support use cases including decentralized finance, or DeFi.
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