Circle has introduced a new product allowing eligible institutions to deposit Bitcoin, mint cirBTC tokens backed one-to-one by Bitcoin, and borrow USD Coin (USDC) through lending markets on Arc and Ethereum without selling their BTC. This innovation enables institutions to use Bitcoin as collateral to access USDC liquidity while retaining ownership of their Bitcoin holdings. The Arc market currently shows strong liquidity and borrowing activity, with no liquidations or bad debt reported. The product is limited to institutional users and aims to expand with more lending venues like Aave joining soon, enhancing Bitcoin's utility in decentralized finance.
Circle's new Bitcoin-backed USDC borrowing product is introduced as context for cryptocurrency market activity. For readers following crypto markets, here is Pluang's snapshot as of Sep 28, 2026 23:32 WIB: out of 50 major cryptocurrencies, 11 rose and 38 fell today. Notable movers include UNI at Rp161.491 with a 1-day change of -6.84% and a typical hold time on Pluang of 65 days, ATOM at Rp31.332 down 6.45%, and AXS at Rp19.732 down 6.03%, with Pluang order activity showing a strong sell bias for these assets.
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