Circle unveiled Arc, a blockchain network designed for payments, tokenized assets, and institutional finance, on September 10, 2026. The network launched with 10 billion ARC tokens minted at genesis and permissioned validators including BlackRock, Mastercard, Visa, the Depository Trust and Clearing Corporation, Intercontinental Exchange, and Standard Chartered.
Jeremy Allaire, Circle’s CEO, called the launch consequential. “This is, I believe, the most consequential major platform launch in our history, and I think an even more consequential launch than USDC itself,” Allaire said.
Arc addresses friction that has kept traditional financial institutions from using existing blockchains. The network uses USDC, Circle’s stablecoin with a $74 billion market cap, to denominate transaction fees rather than requiring users to hold a volatile native token. “That would be crazy,” Allaire said when asked about mandating ARC token holdings for network access.
The network currently operates on proof of authority. Circle is exploring a transition to proof of stake for the ARC token’s role, with no specified timeline beyond 2027. ARC tokens are not yet available to the public.
Circle raised $222 million in a May 2026 token presale that valued the network at $3 billion. More than 100 institutions and ecosystem companies are participating in or exploring Arc, according to Circle. Institutional participants include BlackRock, BNY, HSBC, and State Street.
Integration and Ecosystem
Circle Payments Network and StableFX, the company’s foreign-exchange platform, are being integrated into Arc. Tokenized money market funds, including Circle’s USYC and BlackRock’s BUIDL, are coming to the network.
Uniswap and Aerodrome will operate as trading venues on Arc. Aave and Morpho are providing lending markets. Allaire stated: “We’re committed to make sure that our digital assets and our apps that we build are widely available on the most popular platforms and networks in the world.”
Competitive Landscape
Arc’s launch comes as competition in stablecoins intensifies. Bank of America, Citi, and Goldman Sachs are preparing a competing dollar stablecoin, with a group of 21 financial institutions expected to prepare their offering in the first half of 2027.
Qivalis, a European bank consortium, is working on a euro token. Stripe, the payments firm, is entering crypto with Paradigm as an incubator partner.
Circle built USDC by distributing it across competing networks. Arc represents the company’s effort to establish a dedicated platform for onchain financial activity alongside that multi-chain strategy.
