Borrow against tokenized Circle
Teller pools accept CRCLon, Ondo's tokenized Circle share, as collateral on Ethereum at up to 62.5% LTV, lending USDC at 6% APR. It is the one row here where the collateral and the loan trace back to the same company, since Circle issues USDC. Every loan is fixed-term with no margin-call, so a price fall during the loan cannot liquidate your collateral.
| Collateral | Network | LTV | APR |
|---|---|---|---|
| CRCLon | Ethereum | 62.5% | 6% |
Pool data read . Rates and LTVs are set per pool and change when operators change them.
Borrowing USDC against the company that issues USDC
Circle issues USDC. These pools lend USDC. Depositing tokenized Circle equity and drawing USDC against it is the one row on this platform where the collateral and the loan trace back to the same company.
It changes nothing mechanically. The pool holds the token and hands over stablecoins exactly as it would for any other collateral. It is worth noticing because it concentrates two exposures on one issuer: the value of what you deposited and the value of what you borrowed both depend, in different ways, on Circle continuing to operate.
The row clears 62.5% at 6% APR. If that concentration is not what you want, any of the other tokenized shares gives you the same loan without it.
A newly listed share, and a large float
The contract at 0x3632dea96a953c11dac2f00b4a05a32cd1063fae reads “Circle Internet Group (Ondo Tokenized)” and reports about 160,913 tokens, by far the largest supply of the Ondo equity set here and roughly ten times the tokenized Apple float.
A recently listed company has a shorter price history than Apple or Alphabet, which is part of what an operator is judging when it sets a ceiling below theirs.
The loan
Deposit CRCLon, receive USDC, repay or roll on the due date. Rate, LTV and the roll window are set at the start. There is no liquidation threshold during the term, so a lock-up expiry or an early earnings report moves the collateral’s value and leaves the obligation alone. Miss the due date and the collateral is forfeit.
The pool is on Ethereum, so budget mainnet gas across the approval and the borrow. Ondo holds the underlying share and the token carries no vote or direct claim on the company.
Tokenized Coinbase is the other crypto-linked equity here, and the tokenized stocks page has the rest.
Frequently asked questions
Yes. A Teller pool on Ethereum lends USDC against CRCLon at 0x3632dea96a953c11dac2f00b4a05a32cd1063fae.
Mechanically no; the pool works the same as any other. It does concentrate two exposures on one issuer, since what you deposited and what you borrowed both depend on Circle continuing to operate. Any other tokenized share gives you the same loan without that.
About 160,913 at the last reading, the largest supply of the Ondo equity set here and roughly ten times the tokenized Apple float.
A recently listed company has a shorter price history, which is part of what an operator judges when setting a ceiling.
No. The token tracks the share price and Ondo holds the underlying share. There is no vote and no direct claim on the company.
Open a loan
Connect a wallet, deposit your collateral, and borrow a stablecoin. No credit check, no application.
Go to the borrow tab →No collateral to pledge? Check whether you pre-qualify for a no-collateral personal loan. Soft check, no hard pull.