Crypto
Circle Mint Enables Institutional Borrowing Against Bitcoin
Circle Mint has launched Digital Asset-Backed Borrowing, allowing eligible institutional clients to borrow USDC against their Bitcoin holdings through Morpho.
The service is available on both Arc and Ethereum platforms. By depositing Bitcoin and minting Circle Wrapped Bitcoin (cirBTC), users can supply the wrapped asset as collateral through supported third-party lending markets and receive borrowed USDC in their Circle Mint balance.
This innovation separates access to dollar-denominated liquidity from the need for institutional clients to dispose of their underlying Bitcoin. The arrangement relies on a user-controlled Smart Wallet, ensuring that users retain control throughout the borrowing process.