đš Bitcoin just became more useful for institutions. đâż
Circle has launched Digital Asset Backed Borrowing, allowing eligible Circle Mint customers to use BTC as collateral and borrow USDC without selling their Bitcoin.
The flow is simple:
âż Hold BTC
đ Mint 1:1 backed cirBTC
đ° Use it as collateral
đ” Borrow USDC
đ Keep BTC exposure
At launch, the service supports Arc and Ethereum, with Morpho as the first approved lending protocol. Circle says additional protocols including Aave are expected to follow.
That changes the role of Bitcoin.
It doesn't have to just sit in a treasury.
It can potentially become collateral inside institutional onchain credit markets.
đ„ Is BTC becoming more than an asset to hold?
$BTC $CRCL
BTCUSDT
Perp
84,392.5
+0.74%
CRCLUSDT
Perp
92.24
-0.51%