Circle launches cirBTC for Ethereum and Arc with unified balance

Circle added its Bitcoin-backed token, cirBTC, to Gateway on Oct. 23, allowing holders to use one deposited balance across Ethereum and Arc blockchains. Gateway treats deposits across supported networks as a single spendable balance per asset, minimizing the need to maintain funds on both chains. The expansion also introduces the EURC stablecoin alongside USDC, with cirBTC listed on Ethereum and Arc mainnet. EURC is supported on Avalanche, Base, Solana, and World Chain as well.

Gateway maintains separate balances for each asset. A cirBTC transfer burns the token on the source network and mints it on the destination, without converting to USDC or transferring native Bitcoin. Circle states that the shared inventory can be utilized for withdrawals or payments across both chains.

Circle advertises cross-chain access in under 500 milliseconds after deposit finality, excluding initial funding wait. The average Ethereum deposit takes approximately 13 to 19 minutes for Gateway to update the balance. A seven-day withdrawal option allows holders to reclaim funds directly from the Gateway Wallet contract without using Circle's API, extending the withdrawal delay to cirBTC.

Circle confirms that cirBTC is backed one-for-one by native Bitcoin held at a regulated entity, segregated from corporate assets. Gateway integration is permissionless, requiring no sign-up, while access to cirBTC through Circle Mint is available to qualified businesses. Withdrawal of cirBTC leaves the holder with the token, while redeeming it for native Bitcoin involves a separate Mint process. Gateway fees for cirBTC and EURC are waived on Arc at launch, with a one-basis-point rate outside Arc.

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