Circle's cirBTC goes live on Arc with $150M in first-day lending deposits
- —cirBTC is 1:1 backed by real BTC, issued by Circle International Bermuda under BMA regulation
- —Morpho attracted over $150M into USDC and EURC vaults with cirBTC as collateral
- —Aave V4 opened cirBTC, USDC and EURC markets on Arc almost simultaneously
- —As of September 19-20, roughly 949 cirBTC worth $77M were issued, with reserves at 951 BTC
Why it matters: Institutions gain a compliant way to put Bitcoin to work in DeFi without selling their BTC.
Source: Crypto Briefing