#CircleLaunchesInstitutionalBTCBackedBorrowing
Circle Launches BTC-Backed USDC Borrowing for Institutions đ
âCircle has launched a new service allowing institutional clients to deposit Bitcoin, convert it 1:1 to cirBTC, and use it as collateral to borrow USDC directly into their Circle Mint account.
âKey Highlights:
đč 1:1 BTC Backing: cirBTC is backed 1:1 by real Bitcoin held in custody by Circle National Trust.
đč DeFi Integration: Morpho is the first supported lending protocol, with Aave support planned next.
đč Flexible Terms: Loan terms and interest rates are set directly by third-party lending protocols.
đč Availability: Currently rolled out globally for institutions (excluding New York due to local regulations).
âThis move joins a growing institutional trend alongside Anchorage Digital, Lombard, and BitGo to unlock deep Bitcoin liquidity for DeFi.
â#Circle #USDC #Bitcoin #BTC #DeFi #CryptoNews #Binance #CryptoInstitutional
Circle Launches BTC-Backed USDC Borrowing for Institutions đ
âCircle has launched a new service allowing institutional clients to deposit Bitcoin, convert it 1:1 to cirBTC, and use it as collateral to borrow USDC directly into their Circle Mint account.
âKey Highlights:
đč 1:1 BTC Backing: cirBTC is backed 1:1 by real Bitcoin held in custody by Circle National Trust.
đč DeFi Integration: Morpho is the first supported lending protocol, with Aave support planned next.
đč Flexible Terms: Loan terms and interest rates are set directly by third-party lending protocols.
đč Availability: Currently rolled out globally for institutions (excluding New York due to local regulations).
âThis move joins a growing institutional trend alongside Anchorage Digital, Lombard, and BitGo to unlock deep Bitcoin liquidity for DeFi.
â#Circle #USDC #Bitcoin #BTC #DeFi #CryptoNews #Binance #CryptoInstitutional
