Circle Unveils Native Token for Arc Blockchain, Fuels Q3 Profits Surge

Stablecoin issuer Circle has unveiled plans for a native token on its ARC blockchain testnet, an enterprise-focused Ethereum Virtual Machine network. This move follows the launch of Arc in October with participation from giants like Goldman Sachs, BlackRock, and Visa. The company intends to integrate this new token into the Arc network’s future operations, likely involving gas fees based on stablecoins such as USDC. Circle envisions a decentralized governance model for the Arc network, potentially utilizing the native token to further adoption and align stakeholder interests.