#circle推出机构比特币抵押借贷
👉 币不用卖也能借钱
Circle has launched institutional collateralized lending.
The institution deposits BTC into Circle Mint.
Redeem 1:1 pegged cirBTC.
Then use it to collateralize and borrow USDC on Morpho.
The entire process doesn’t require selling a single coin.
Custody is held at Circle’s trust company.
The liquidation LTV cap is 0.86.
The maximum opening LTV is 0.80.
The current loan’s annualized rate is about 2.42%.
The interest rate and liquidation thresholds are set by a third-party market.
In the future, it’s also planned to integrate with Aave.
This is not a retail tool.
Before, if institutions needed cash, there was only one way: sell coins.
Now there’s an additional option: exchange coins for liquidity.
Selling pressure is no longer the only way to realize liquidity.
Coins are locked in custody, so the circulating supply will only get thinner.
But that doesn’t mean there’s no risk.
With an extra layer of cirBTC wrapping, there’s an additional counterparty.
Customers in the New York area are directly excluded.
For crypto, what’s truly worth watching is how fast this model gets rolled out.
Do you think institutions will use it long-term? Let’s discuss in the comments.
👉 币不用卖也能借钱
Circle has launched institutional collateralized lending.
The institution deposits BTC into Circle Mint.
Redeem 1:1 pegged cirBTC.
Then use it to collateralize and borrow USDC on Morpho.
The entire process doesn’t require selling a single coin.
Custody is held at Circle’s trust company.
The liquidation LTV cap is 0.86.
The maximum opening LTV is 0.80.
The current loan’s annualized rate is about 2.42%.
The interest rate and liquidation thresholds are set by a third-party market.
In the future, it’s also planned to integrate with Aave.
This is not a retail tool.
Before, if institutions needed cash, there was only one way: sell coins.
Now there’s an additional option: exchange coins for liquidity.
Selling pressure is no longer the only way to realize liquidity.
Coins are locked in custody, so the circulating supply will only get thinner.
But that doesn’t mean there’s no risk.
With an extra layer of cirBTC wrapping, there’s an additional counterparty.
Customers in the New York area are directly excluded.
For crypto, what’s truly worth watching is how fast this model gets rolled out.
Do you think institutions will use it long-term? Let’s discuss in the comments.
