Buyers confirm invoices, lenders compete to finance them, and Arc settles every payment automatically.
Morrow transforms accepted B2B invoices into transparent, financeable USDC cash flows.
USDC-native • Buyer-accepted • Deterministic settlement
Lifecycle
One receivable moves through a single deterministic path. Every participant sees the same state.
The buyer confirms the invoice is a valid payment obligation and designates the Arc settlement route.
Buyer accepted
INV-2048 · 10,000 USDC
Funding auctions let lenders compete on rate and size until the requested advance is filled.
9,200 USDC funded · 8.4% clearing APR
The buyer's USDC payment flows into the settlement vault and splits automatically to every claim.
Settled on Arc
Why Morrow
Each receivable is financed on its own merits, with the obligation, the pricing and the payout path all explicit.
Only invoices a buyer has explicitly accepted enter the market, with evidence hashes recorded onchain.
Rate discovery through open auctions rather than a single lender quoting a take-it-or-leave-it discount.
The waterfall is defined before funding: fee, lender principal and return, then business remainder.
Lenders fund from balances held across chains and allocate to Arc without leaving the app.
Settlement waterfall
The distribution is agreed before a single USDC is advanced. When the buyer pays, the vault executes it without discretion.
Buyer payment received
10,000.00USDCProtocol servicing fee
50.00 USDC
Lender principal
9,200.00 USDC
Lender return
300.00 USDC
Business remainder
450.00 USDC
Illustrative distribution for the demo receivable. Test USDC only.
Northstar Labs
Seller · Aster Studio
9,200 USDC advance · 45 days
Atlas Commerce
Seller · Aster Studio
17,020 USDC advance · 30 days
Orbit Freight
Seller · Kestrel Logistics
23,000 USDC advance · 60 days
Mock business and risk data. Risk assessment is illustrative and is not investment advice.
Built on Arc and Circle
No logo wall. Here is the specific job each component performs in the receivable lifecycle.
Arc
The settlement chain. Invoice state, funding claims and the payment waterfall all finalize here in about a second.
USDC
The unit of account. Advances, bids, repayments and fees are denominated and moved in USDC — no volatile collateral.
Circle Wallets
Businesses and buyers sign with an email-created wallet. No seed phrase, no browser extension required.
App Kit
Handles onboarding, session management and signing prompts so finance teams see a normal approval flow.
Gateway
Gives lenders one unified USDC balance across chains, so idle capital anywhere can be committed to an Arc auction.
CCTP
Moves the committed USDC natively to Arc at funding time and returns proceeds to the lender's preferred chain.