Circle launches Bitcoin-backed USDC borrowing for institutional clients through Morpho
Circle has opened Bitcoin-backed borrowing to institutional clients, enabling them to access USDC liquidity by pledging BTC as collateral. The cirBTC market on Arc currently holds The cirBTC market on Arc holds $14.3 million of USDC borrowed against 287 cirBTC, up from $1.37 million on Sept. 17.
of USDC borrowed against 287 cirBTC, with Galaxy and Keyrock supplying nearly all the dollars. Morpho handles the loan terms while Circle issues the wrapper and wallet.
Sources: Cointelegraph, The Defiant
This article is for information only and is not financial advice.
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