Circle launches Bitcoin-backed USDC borrowing via Morpho

Circle has introduced a digital asset-backed borrowing service allowing eligible institutions to deposit Bitcoin to mint cirBTC and borrow USDC through Morpho lending markets. The service, live on Arc and Ethereum as of September 21, streamlines the process of accessing dollar liquidity without selling Bitcoin. While Circle coordinates the workflow, borrowing terms such as interest rates and liquidation thresholds are determined by the specific Morpho market used.