Here is another way by using UIBezierPath (maybe it's too late ^^) Create a circle and mask UIView with it, as follows:
UIView *view = [[UIView alloc] initWithFrame:CGRectMake(0, 0, 200, 200)];
view.backgroundColor = [UIColor blueColor];
CAShapeLayer *shape = [CAShapeLayer layer];
UIBezierPath *path = [UIBezierPath bezierPathWithArcCenter:view.center radius:(view.bounds.size.width / 2) startAngle:0 endAngle:(2 * M_PI) clockwise:YES];
shape.path = path.CGPath;
view.layer.mask = shape;