Circle Mint launches digital asset collateralized lending feature, supporting borrowing USDC with BTC as collateral

Circle announced that the Digital Asset Backed Borrowing and Lending (DABB) feature has been launched on the Arc and Ethereum networks, available to eligible Circle Mint institutional clients.

Clients can deposit Bitcoin, mint Circle Wrapped Bitcoin (cirBTC), and supply cirBTC as collateral to third-party lending markets in a single process using a self-custody wallet. The USDC borrowed will be directly settled into the Circle Mint account balance, without the need to sell the pledged Bitcoin; collateral can be released after repaying the USDC.