cirBTC Goes Live on Aave V3 and V4 as Collateral
cirBTC, Circle's 1:1 Bitcoin-backed token, is now live on Aave V3 and V4 on Ethereum, where it can be supplied as collateral to borrow assets such as USDC in the Aave V3 Core market and V4 Core Hub. Aave announced the listing, and Circle amplified it on X.
- The integration is the concrete onchain-lending use case behind Circle's push to position cirBTC for borrowing, lending, and settlement without holders selling their BTC
- USDC supplies the dollar-denominated liquidity for borrowing, repayment, and settlement
- cirBTC is also available on Arc, as Circle targets institutions holding bitcoin on their balance sheets
Sources
- RT @aave: cirBTC (@Circle Wrapped BTC) is now live on Aave V3 and Aave V4 on Ethereum. cirBTC can be supplied as collateral to borrow asse…x.com ↗
- cirBTC helps institutions put BTC to work onchain. As a 1:1 wrapped BTC token, cirBTC can support use cases across borrowing, lending, liquidity, and settlement without requiring holders to sell their underlying BTC position. https://t.co/GfEgWjARxzx.com ↗
- Bitcoin can anchor a balance sheet, but institutions still need liquidity they can use. cirBTC brings BTC into supported smart contract markets as collateral. USDC provides programmable, dollar-denominated liquidity for borrowing, repayment, and settlement.x.com ↗
Circle
