Circle launched on September 21 a service allowing eligible Circle Mint clients to deposit Bitcoin, mint cirBTC collateral, and borrow USDC through the Morpho lending protocol, on both Arc and Ethereum. On the Arc market, the liquidation loan-to-value limit stands at 86%, with 14.13 million USDC borrowed, 162.85 million USDC in available liquidity, and 7.98% utilization. Liquidation risk remains with Morpho and not Circle, as cirBTC collateral sits within the lending market. The service is limited to eligible institutions and excludes New York clients.
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