Circle launched its digital asset-backed guaranteed borrowing feature (DABB) on the Arbitrum and Ethereum networks. It is now available to Circle Mint qualified institutional customers. These customers can deposit Bitcoin, issue Bitcoin wrapped by Circle (cirBTC), and use it as collateral to borrow USDC through third-party lending markets, with the funds being credited directly to their Circle Mint account balance. The borrowed USDC can be repaid to release the collateral without selling the underlying Bitcoin.
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