Circle said its Aave market now supports an asset-backed lending product connected to Circle Mint, expanding the company’s BTC-collateralized USDC borrowing service beyond its earlier Morpho integration. Under the setup, eligible Circle Mint LLC customers can deposit Bitcoin, mint cirBTC, and borrow USDC through Arc or supported third-party lending markets on Ethereum. The announcement lays out the product structure rather than new protocol terms: the USDC used in these loans is supplied by lenders in third-party markets, while collateral ratios, interest rates, and liquidation rules are determined by the lending protocol involved. The update adds Aave as another venue in the program and keeps the operational framework unchanged. The item was carried by Techub News, citing Wu Blockchain.
Circle, the issuer behind USDC, said its Aave market now supports Circle Mint’s asset-backed lending product.
Eligible Circle Mint LLC customers can deposit Bitcoin, mint cirBTC, and borrow USDC through Arc or supported third-party lending markets on Ethereum.
The addition of Aave expands a BTC-collateralized borrowing service that had already supported Morpho. The USDC in these loans is provided by lenders in third-party markets, while collateral ratios, interest rates, and liquidation rules are set by the lending protocol involved, according to the announcement cited by Techub News and Wu Blockchain.
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