Circle launches bitcoin-backed lending for institutional clients
- —cirBTC is backed 1:1 by bitcoin held at Circle National Trust
- —USDC loans are issued through third-party protocols, starting with Morpho
- —The service is live on Arc and Ethereum and limited to institutions
- —Support for Aave and other protocols is planned
Why it matters: The service gives institutions a way to raise USDC liquidity without selling BTC, easing potential sell pressure.
Source: PANews