Update
Circle Publishes Seven-Part Framework for Institutional Wrapped Assets
Circle, a digital asset platform, has released a seven-part framework to evaluate the suitability of wrapped assets for institutional use. The framework covers custody, reserves, redemption, compliance, operational resilience, governance, and composability. Circle's product, cirBTC, or Circle Wrapped Bitcoin, is tested against these seven categories, including compliance through an affiliate regulated by the Bermuda Monetary Authority, custody by Circle National Trust, and reserves backed 1:1 by native BTC. The framework aims to define what 'institutional grade' means for wrapped assets and offers a practical due diligence template for institutions considering using wrapped Bitcoin as collateral.