Circle Plans New Native Token for Arc Network

Summary

Circle is evaluating a native token for its Arc blockchain, where USDC currently serves as the gas token, to encourage broader network participation and move toward decentralized governance. The Arc network, launched in October, recently completed a public testnet with over 100 financial and payments firms. In its Q3 earnings, Circle reported a 202% rise in net income to $214 million and a 108% increase in USDC circulation to $73.7 billion, underscoring the platform’s rapid growth.