主要洞察
- Circle Mint now enables eligible institutional clients to borrow USDC using 比特币 as collateral—via cirBTC on supported lending markets—without needing to sell their BTC.
- This new offering is live on ETH 作为其原生资产。">Ethereum and Arc, with Morpho serving as the initial integrated lending protocol.
- The rollout arrives on the heels of the Arc Mainnet debut on September 16, further expanding Circle’s suite of institutional infrastructure for payments, USDC, and onchain financial services.
USDC issuer Circle rolled out a fresh Digital Asset-Backed Borrowing service inside Circle Mint on September 21, 2026.
Through this offering, qualified institutional users can secure collateralized USDC loans backed by 比特币, eliminating the necessity to liquidate their underlying BTC 持仓面临巨额未实现亏损，分别报告了数十亿和数百万美元的净亏损。
The feature operates via integrated third-party lending markets on both ETH 作为其原生资产。">Ethereum and Arc, with Morpho standing as the inaugural protocol to 支撑 it.
Circle Brings USDC Liquidity to Bitcoin
According to Circle, the Digital Asset-Backed Borrowing (DABB) model aims to streamline a workflow that previously demanded multiple disjointed actions. Because native 比特币 cannot interface directly with 智能合约, utilizing BTC for onchain lending historically involved 结束了 assets, cross-platform transfers, and separate settlement processes back to an institutional account.
The updated mechanism lets customers deposit BTC to 铸造 cirBTC. They then select an approved third-party lending market, stake the cirBTC as collateral, and borrow USDC.
Upon 发行, the borrowed 稳定币 land directly in the user’s Circle Mint balance, and repaying the borrowed USDC unlocks the locked collateral.
Circle noted that these positions maintain overcollateralization. Specific parameters—such as interest rates, collateralization ratios, liquidation thresholds, and accessible liquidity—are determined entirely by the chosen lending market and remain subject to change.
Consequently, the exact financial structure and expenses of each position reflect the chosen market’s conditions rather than a single uniform borrowing rate dictated by Circle.
Newly Launched Arc and Ethereum for DABB
Eligible clients can access this borrowing workflow across both Arc and ETH 作为其原生资产。">Ethereum 网络连接起来。
This launch follows closely behind the September 16 debut of the Arc Mainnet. As reported by The Coin Republic, Arc went live alongside more than 100 ecosystem builders and institutional participants, engineered specifically to handle trading, foreign 交易所, lending, payments, and other financial market operations.
The network utilizes USDC for transaction fees and boasts sub-second finality, according to Circle.
These network traits make the Arc integration highly pertinent to the borrowing service. Circle highlighted that Arc integrates cirBTC and USDC into dedicated stablecoin infrastructure, while Ethereum grants entry to established onchain lending protocols.
For organizations already integrated with Morpho, Circle Mint supplies a streamlined pathway to establish a cirBTC position and return borrowed USDC straight to their Circle Mint account.
In parallel, Circle has continued 量 a network can handle without fees or delays exploding.">scaling its broader payments ecosystem. The Coin Republic previously detailed an August 8 report stating that Circle agreed to acquire Tazapay, a Singapore-headquartered B2B cross-border payments enterprise active across over 100 markets.
As of July 31, 2026, Tazapay managed over $25 billion in annualized transaction 量, with 稳定币 accounting for more than 60% of that total. Pending regulatory clearance, the acquisition is slated to finalize in 2027.
Additionally, an August 28 report from The Coin Republic covered Circle’s official partnership with Chelsea Football Club, which places Circle and USDC branding on the club’s men’s and women’s academy team kits throughout the 2026/27 season.
While those broader corporate initiatives span different facets of the company’s operations, this new product ties directly into 比特币, USDC, and 去中心化 onchain lending.
常见问题解答
What is Circle Mint’s new Digital Asset-Backed Borrowing service?
It allows eligible institutional clients to take out collateralized USDC loans using Bitcoin without selling their underlying BTC.
Which networks and lending protocols support the new feature?
The service is available on Arc and Ethereum, with Morpho acting as the first integrated lending protocol.
How does the borrowing process work with Bitcoin?
Users deposit BTC to 铸造 cirBTC, supply it as collateral to a supported third-party lending market, and borrow USDC directly into their Circle Mint balance.
Are the borrowing positions overcollateralized?
Yes, all positions are overcollateralized, with terms like interest rates and liquidation thresholds determined by the specific lending market used.
Arnold Kirimi 
