Circle's Arc Network Goes Live with Major Financial Institutions Onboard

Circle Internet Group's (CRCL) stock price dropped by 7.13% to $80.15 after the company launched its Arc network on public mainnet.

The Arc network, designed for payments, trading, lending, and cross-border settlement, uses USDC as a transaction fee token, eliminating the need for a volatile gas token.

Circle integrated its payments network directly into Arc for near-real-time cross-border transfers and supports confidential transactions, although network-wide privacy features are still under development.

The Arc rollout includes major financial institutions such as BlackRock, Visa, and Mastercard, which will help operate the network and support institutional settlement and tokenized finance.