Arc Network Launch Sends Circle Shares Down 7.13%

Circle Internet Group's shares declined by 7.13% to $80.15 as it launched its Arc network on public mainnet. The decline came after a sharp mid-morning drop, erasing earlier gains that saw the stock trading near $86.30.

Arc is designed as a Layer 1 network for payments, trading, lending, asset issuance, and cross-border settlement. It uses USDC for transaction fees, eliminating the need for a separate volatile gas token. The network also provides sub-second finality and supports post-quantum signatures for added security.

Circle integrated its payments network directly into Arc, enabling near-real-time cross-border transfers. The system also supports confidential transactions, although network-wide privacy features remain under development.