Crypto Market Update: Circle Launches cirBTC

Circle unveils “cirBTC”

Circle, the powerhouse issuer of the USDC stablecoin, has officially entered the Bitcoin infrastructure space with the launch of “cirBTC.”

This new Bitcoin-backed token is designed to solve the “trust deficit” that has historically plagued wrapped Bitcoin products, which many investors view as too risky for large-scale use. The token will initially live on Ethereum and Circle’s own “Arc” blockchain, a network specifically optimized for high-speed, stablecoin-driven transactions.

One of the most compelling features of the Arc integration is the “Gas Station” model, which allows users to conduct transactions without needing to hold native network tokens like ETH.

Unlike some of Circle’s other products, cirBTC does not offer native yield by design. Instead, it serves as a raw building block for other DeFi platforms to utilize.

Moscow’s A7 payment network sets sights on Africa

A Russian-backed cryptocurrency network known as A7 is aggressively expanding its footprint across Africa.

According to a Financial Times report, recent job postings and internal reports indicate the company is eyeing Togo for its next hub, following the establishment of physical offices in Nigeria and Zimbabwe late last year.

Run by a fugitive Moldovan oligarch in partnership with a sanctioned Russian defense bank, A7 utilizes a creative mix of stablecoins and digital promissory notes to facilitate trade without relying on the US dollar.

While the actual volume of transactions processed at these new African branches remains difficult to verify, the Kremlin is touting the platform as a vital tool for its expanding strategic influence on the continent.

Russian Foreign Minister Sergei Lavrov recently highlighted the platform’s role, claiming that the vast majority of Russia’s trade with African nations is now conducted in roubles.

Despite the high-profile launch events in Lagos and Harare, many local crypto players claim to have seen little evidence of the platform’s daily operations.

Schwab pivots toward direct crypto trading

Traditional brokerage giant Charles Schwab is making a major play for the digital asset market by opening a waitlist for direct Bitcoin and Ethereum trading.

This new “Schwab Crypto” account will allow eligible clients to move beyond exchange-traded funds and trade the underlying assets directly through the firm’s banking arm.

By integrating crypto trading into its existing ecosystem, Schwab aims to keep its massive user base from migrating to specialist platforms like Coinbase or Kraken.

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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.