Circle gives its Bitcoin-backed token one balance across Ethereum and Arc
Circle added Bitcoin-backed cirBTC and EURC to Gateway on Oct. 23, enabling users to maintain one balance per asset across Ethereum and Arc. Gateway moves cirBTC by burning it on the source chain and minting it on the destination; it does not transfer native Bitcoin or convert the balance to USDC. Cross-chain access can take under 500 milliseconds after a deposit is finalized, though Ethereum deposits typically take 13–19 minutes to confirm. Users can also withdraw from the Gateway Wallet contract after a seven-day delay without Circle’s API. Circle says cirBTC is backed one-for-one by segregated Bitcoin reserves; redeeming it for native BTC requires a separate Mint process. Fees are waived on Arc at launch, while other operations may incur fees, gas and forwarding charges.
