Circle has introduced Digital Asset-Backed Borrowing for eligible institutional customers, allowing them to deposit Bitcoin, mint cirBTC, and borrow USDC through third-party lending protocols like Morpho on Arc, with Aave expected to join later. This service keeps Bitcoin as collateral, letting customers access dollar liquidity without selling their BTC. Borrowing terms, interest rates, and liquidations are managed entirely by third-party DeFi markets, not Circle. Currently, cirBTC reserves exceed the token supply, ensuring full backing, and the service excludes New York customers due to jurisdictional restrictions. This launch expands Circle Mint's institutional offerings and integrates with emerging blockchain credit markets on Arc and Ethereum.
Circle's launch of Bitcoin-backed USDC borrowing comes as 42 of 50 major cryptocurrencies on Pluang rose today. For readers following crypto markets, here is Pluang's snapshot as of Sep 22, 2026 12:01 WIB: ADA rose 6.57% to Rp4.394 with a typical hold time of 126 days and balanced buy/sell activity; XRP gained 6.55% to Rp26.911 with 65% buy orders; EGLD increased 6.45% to Rp77.474 with 71% buy orders. This breadth indicates strong market momentum across major tokens.
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