Crypto · Multiple jurisdictions
Circle adds BTC-backed USDC borrowing for eligible institutions
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.
Source published · Circle ↗
Mint is unavailable to individuals. Circle has a commercial relationship with Morpho. Third parties provide lending; Circle does not originate, underwrite or fund loans.
Money Notes analysis
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.
Choosing Arc or Ethereum therefore involves comparing the selected market’s rates, liquidity and liquidation threshold. Those parameters can change; integrating access into Mint does not make them fixed.
Original sources
- Digital Asset-Backed Borrowing Is Now Available in Circle Mint ↗Circle · en
- cirBTC Is Now Live on Arc ↗Arc / Circle · en