Exclusive to Institutional Clients, Circle Launches Bitcoin-Collateralized Lending Service

Odaily Report: Circle has launched its Digital Asset-Backed Borrowing service, allowing institutional clients to mint their Bitcoin into 1:1-pegged cirBTC, which is custodied by Circle National Trust and used as collateral to borrow USDC through third-party lending protocols without having to sell their Bitcoin holdings. The first integrated protocol is Morpho, with support for Aave and others to follow. The service has been deployed on Arc and the Ethereum network and is currently available only to institutional clients.