#CircleLaunchesInstitutionalBTCBackedBorrowing
Circle Launches BTC-Backed USDC Borrowing for Institutions 🚀
Circle 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.
Key Highlights:
🔹 1:1 BTC Backing: cirBTC is backed 1:1 by real Bitcoin held in custody by Circle National Trust.
🔹 DeFi Integration: Morpho is the first supported lending protocol, with Aave support planned next.
🔹 Flexible Terms: Loan terms and interest rates are set directly by third-party lending protocols.
🔹 Availability: Currently rolled out globally for institutions (excluding New York due to local regulations).
This move joins a growing institutional trend alongside Anchorage Digital, Lombard, and BitGo to unlock deep Bitcoin liquidity for DeFi.
#Circle #USDC #Bitcoin #BTC #DeFi #CryptoNews #Binance #CryptoInstitutional
Circle Launches BTC-Backed USDC Borrowing for Institutions 🚀
Circle 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.
Key Highlights:
🔹 1:1 BTC Backing: cirBTC is backed 1:1 by real Bitcoin held in custody by Circle National Trust.
🔹 DeFi Integration: Morpho is the first supported lending protocol, with Aave support planned next.
🔹 Flexible Terms: Loan terms and interest rates are set directly by third-party lending protocols.
🔹 Availability: Currently rolled out globally for institutions (excluding New York due to local regulations).
This move joins a growing institutional trend alongside Anchorage Digital, Lombard, and BitGo to unlock deep Bitcoin liquidity for DeFi.
#Circle #USDC #Bitcoin #BTC #DeFi #CryptoNews #Binance #CryptoInstitutional
