Bit2Me Earn: Capital Markets with Stablecoins and Bitcoin

Bit2Me Earn: how stablecoins and Bitcoin open an institutional capital market

Why are more and more institutions looking at Bitcoin and stablecoins as the basis of a new capital market? In this MERGE Madrid talk, Bit2Me explains how overcollateralized Bitcoin lending and stablecoin liquidity let companies and institutions put their treasury to work and access an on-chain credit market, in a regulatory context shaped by MiCA and the latest moves from ESMA and the EBA.

What you'll learn

• Bitcoin as a store of value: why large asset managers already treat it as a value-accumulation asset and a neutral element of trust between institutions
• The lending market: how tens of billions of dollars move through overcollateralized operations backed by Bitcoin and EVM-compatible assets
• From CeFi to DeFi: what changed after the collapse of FTX and why trust is being rebuilt by mitigating credit and counterparty risk
• Yield on treasury: how companies can earn on idle liquidity with stablecoins, with daily, flexible returns (overnight operations)
• Regulatory context: what MiCA and the decisions of ESMA and the EBA mean for stablecoins and e-money tokens in Europe

Session summary

Why Bitcoin. Beyond its origin as a peer-to-peer payment system, Bitcoin is consolidating as a store of value and a neutral element of trust that lets different market players interact. Its independence from monetary policy and fiat debasement underpins much of the institutional investment thesis.

A capital market on top of crypto. Lending is one of the big trends: as of October 2025, around USD 86 billion is locked in overcollateralized operations, mostly backed by Bitcoin and EVM-compatible assets. This provides extraordinary liquidity in both the B2C segment and, above all, the institutional B2B segment.

Rebuilding trust. After the collapse of CeFi lenders such as FTX, the market now prioritizes mitigating credit and counterparty risk: new solutions allow overcollateralizing, liquidating and settling on a deferred basis without handing collateral to a third party. CeFi, which once made up around 60% of the market in 2021, is being rebuilt with institutional technology.

Yield and treasury with Bit2Me Earn. Bit2Me, a regulated entity that verifies the source of funds, lets retail, B2B and institutional users deposit stablecoins flexibly and earn daily yield (up to 8% APY; a 2024 average of around 7.86%). That liquidity is deployed into lending operations and compares favorably with traditional assets such as corporate bonds or Treasury bills. The main denominations are Circle's USDC and EURC, plus European stablecoins regulated under MiCA and backed by Tether.

Watch the full session

Watch the full Bit2Me talk on MERGE's YouTube channel for the details of how an institutional lending and capital market is built with stablecoins and Bitcoin.

FAQs

What is Bit2Me Earn?
It is the Bit2Me service that lets users, companies and institutions deposit stablecoins and other assets flexibly to earn a daily yield, channeling that liquidity into lending operations.

Where does the stablecoin yield come from?
Mainly from overcollateralized lending operations backed by Bitcoin: those with surplus liquidity lend it to those who need it, with collateral mitigating credit and counterparty risk.

What yield can you get?
Up to 8% APY depending on the denomination; the 2024 stablecoin average was around 7.86%, a level comparable to high-yield assets in traditional markets but with its own risk profile.

How does European regulation affect this?
The MiCA framework and the decisions of ESMA and the EBA are defining what can be done with stablecoins and e-money tokens; operating with a regulated entity that verifies the source of funds adds compliance and security.