Digital Asset-Backed Borrowing Is Now Available in Circle Mint

Circle has launched Digital Asset-Backed Borrowing for eligible institutional Circle Mint customers, enabling them to deposit bitcoin, mint the 1:1 BTC-backed cirBTC token, use it as collateral in supported third-party lending markets, and receive borrowed USDC without selling their bitcoin holdings. Initially available on Arc and Ethereum through Morpho markets, the service combines collateral setup, borrowing, settlement into Circle Mint, and repayment in a coordinated workflow, while additional protocols such as Aave may be supported later. Circle presents cirBTC as independently verifiable, institutionally custodied collateral, with the underlying BTC held through Circle National Trust, and emphasizes its neutrality as a provider that does not operate an exchange or lending platform. Borrowing remains subject to changing market-driven interest rates, collateral ratios, liquidity, and liquidation thresholds, alongside blockchain, smart-contract, custody, and regulatory risks; availability is limited by customer eligibility and jurisdiction, including exclusion of New York clients.

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