Circle has introduced Digital Asset-Backed Borrowing, enabling institutional clients to borrow USDC against Bitcoin holdings without selling. Users can mint cirBTC, a 1:1 Bitcoin-backed token custodied by Circle National Trust, as collateral through third-party lending protocols.
The service initially integrates with Morpho, with plans to support Aave and other platforms. Currently deployed on Arc and Ethereum networks, the offering is exclusively available to institutional clients at launch.
Circle Launches Bitcoin-Backed Lending Service for Institutional Clients
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