Circle launched its Layer 1 blockchain, Arc, on September 16. The network is designed for financial markets and utilizes USDC as its native asset for gas and settlements. At the time of launch, Circle deployed $649 million in USDC and €7 million in EURC on the platform.
The ecosystem includes over 100 participants, featuring major financial institutions such as BlackRock, Visa, Mastercard, and DTCC. DeFi integrations at launch include Aave, Morpho, and Uniswap. The network offers sub-second transaction finality with target fees of $0.01.
Circle minted 10 billion ARC tokens, allocating 60% to an ecosystem development fund, 25% to the company, and 15% to long-term reserves. A presale raised $222 million, valuing the total token supply at $3 billion on a fully diluted basis.
The network supports the Cross-Chain Transfer Protocol for USDC movement across more than 30 chains and accommodates over 22 fiat-linked stablecoins. Circle plans to transition Arc to a proof-of-stake consensus mechanism in 2027, where ARC tokens will facilitate network validation.
