Circle Mint launches digital asset collateralized lending for institutional clients

Circle has launched its Digital Asset Backed Borrowing (DABB) feature on Arc and the Ethereum network for eligible Circle Mint institutional clients. The service allows users to deposit Bitcoin to mint cirBTC, which can then be used as collateral in third-party lending markets to borrow USDC. Borrowed funds are settled directly into the user's Circle Mint account without requiring the sale of the underlying Bitcoin.