Circle Mint similarly opened Bitcoin-backed borrowing for eligible institutions using the cirBTC token on Arc or Ethereum. The cirBTC market on Arc saw borrowed USDC rise to $14.3 million from $1.37 million between Sept. 17 and Sept. 21. Coinbase also released an embeddable Borrow tool for developers to integrate crypto-backed lending positions directly into third-party applications.
Aave enabled USDC deposits from the Base network for early users of its mobile app via a waitlist system. The protocol's V4 deployment on Arc provides borrow rates for USDC and EURC against collateral such as WETH and cirBTC.