Circle Wrapped Bitcoin (cirBTC) Meets Aave’s Technical Listing Criteria

Aave Labs found Circle Wrapped Bitcoin (cirBTC) technically eligible for a possible listing in Aave’s Ethereum market, but its pre-listing review was not a listing decision. Ethereum held about 910.15 cirBTC at the time of the assessment, with a value of about $70.12 million. Circle Wrapped Bitcoin is designed to let Bitcoin (BTC) be used in smart-contract applications without holders selling the underlying asset; an earlier snapshot of cirBTC’s supply and backing provides cross-chain context. The review flagged controls over contract upgrades, transfer pauses and address freezes. Each was managed by a single key, with no onchain time lock. An audit report for the Cross Chain Token Service (CCTS) framework, which can mint cirBTC on Ethereum, had not been provided.

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