Circle 在 Circle Mint 上推出以比特币为抵押的 USDC 借贷服务

Core Points

Circle Mint now allows eligible institutions to borrow USDC through supported lending markets using cirBTC as collateral without selling Bitcoin (BTC). The service has been launched on Arc and Ethereum networks, and Morpho is the first lending agreement to integrate this service. This release follows the launch of Arc's main network on September 16, further expanding Circle's institutional infrastructure around USDC, payments and on-chain financial services.

USDC issuer Circle launches digital asset-backed lending service

On September 21, 2026, USDC issuer Circle announced the launch of a new "Digital Asset-Backed Borrowing"(DABB) service in Circle Mint. The service allows qualified institutional customers to borrow USDC with Bitcoin as collateral without having to liquidate the underlying BTC to cover the borrowed amount.

The service will be available through third-party integrated lending marketplaces on Arc and Ethereum, with Morpho being the first lending agreement to support the service.

Circle brings USDC liquidity to the Bitcoin ecosystem

Circle said that DABB aims to simplify operating processes that previously required multiple separate steps. Native Bitcoin cannot directly interact with smart contracts, so in the past, the use of BTC in on-chain lending often required complex operations such as packaging assets, cross-platform transfers, and separate transfer of settlement funds to institutional accounts.

Under the new process, customers deposit BTC and cast cirBTC. They then chose the supported third-party lending market, provided cirBTC as collateral, and borrowed USDC. Borrowed stablecoins will be added to the customer's Circle Mint balance. After USDC is repaid, the collateral will be released.

Circle pointed out that these positions are all overcollateralized. Interest rates, mortgage requirements, clearing thresholds, available liquidity and other terms are set by the selected lending market and may change. This means that the cost and structure of each position depends on the market used, rather than a single fixed Circle borrowing rate.

Arc launches the DABB service simultaneously with the Ethereum network

The service is launched simultaneously on the Arc and Ethereum networks, allowing eligible users to access the new lending workflow on both networks. This release time follows Circle's Arc main network launched on September 16. According to reports, Arc had more than 100 institutions and ecosystem participants joining when it launched, and is designed to serve payments, foreign exchange, trading, lending and other financial market activities.

On the network, USDC is used to pay transaction fees, while Circle said Arc supports second-level final confirmations. This makes Arc closely related to new lending services. USDC issuers say Arc brings cirBTC and USDC into infrastructure specifically designed for stablecoin finance, while Ethereum provides access to mature on-chain lending markets.

For teams already using Morpho, Circle Mint provides a direct way to directly initiate cirBTC positions and settle borrowed USDC back into the Circle Mint balance.

Circle continues to expand its payments landscape

Circle has been expanding its payments footprint. Circle reportedly agreed on September 8 to acquire Tazapay, a Singapore based B2B cross-border payments company that operates in more than 100 markets. As of July 31, 2026, Tazapay's annual payments exceeded US$25 billion, of which more than 60% were in stablecoins. The transaction is expected to be completed in 2027 and requires regulatory approval.

Previously, it was reported on August 28 that Circle had reached a cooperation with Chelsea Football Club. The brand logos of Circle and USDC will appear on the club's men's football and women's youth training teams during the 2026/27 season.

The above initiatives cover different aspects of the business. The latest product launches are more directly related to Bitcoin, USDC and online lending.