Circle announced DABB on 21 September for eligible Circle Mint institutional customers on Arc and Ethereum. Customers deposit BTC, mint cirBTC and pledge it in third-party lending markets, with borrowed USDC credited to Mint. Morpho is supported at launch; New York clients are excluded.
One borrowing interface still leaves collateral at risk of liquidation
The integration connects BTC custody, a wrapped token and loan settlement, reducing cross-platform work for treasury teams. Borrowers retain BTC exposure while adding a USDC liability. Falling collateral prices still require them to manage top-up and liquidation risk.
The Eurosystem launched Pontes on 21 September, enabling wholesale tokenised asset transactions to settle in central bank money. In a separate announcement, the ECB said it was preparing to invest a small share of its own funds in tokenised securities; the timing of those investments has yet to be decided.
Pontes settlement is live; ECB investment remains in preparation
For tokenised securities to become part of everyday institutional trading, issuance and trading systems need a reliable way to settle the cash leg. Pontes provides settlement in central bank money, addressing the demand for a safe settlement asset expressed during earlier Eurosystem trials. The first participants are connected; settlement values and transaction frequency will show how much they use the service.