Circle launches Bitcoin-collateralized USDC borrowing for institutions

  • Circle launched Digital Asset-Backed Borrowing for institutional Bitcoin-backed USDC loans.
  • Users convert Bitcoin into 1:1 cirBTC tokens and post them as collateral.
  • Morpho is integrated first, while Circle plans to add Aave and other protocols.

Circle has launched Digital Asset-Backed Borrowing, a service allowing institutional clients to borrow USDC against Bitcoin without selling their holdings. Users convert Bitcoin into cirBTC, a 1:1 tokenized version of Bitcoin, and deposit it as collateral through third-party lending protocols. Morpho is the first integrated protocol, while Circle plans to add Aave and other platforms. The service is built on Circle's blockchain Arc and Ethereum, and cirBTC is custodied by Circle National Trust. Odaily reported the launch on September 21.

The information on this website is generated using AI and we cannot guarantee its accuracy. Please use it as reference information only.