BlockBeats News, May 22nd, according to official sources, Circle CEO Jeremy Allaire posted on social media that cirBTC is about to be launched. Circle Wrapped Bitcoin (referred to as cirBTC) is a tokenized BTC pegged 1:1 to native Bitcoin (BTC), issued by Circle on the Ethereum mainnet and the Arc network. Each cirBTC is backed by a 1:1 reserve of native BTC held by Circle's regulated entity.