Circle CEO Says Arc Network Token Is Under Exploration
According to Jeremy Allaire, Circle is considering a native token for ArcNetwork as the layer-1 blockchain’s testnet expands to more than 100 participating companies, including BlackRock, Visa, and Goldman Sachs.
Fact Check
The only concrete provenance established in this run is that the Odaily item points to https://www.youtube.com/watch?v=v8gt5KBsazQ&t=1882s. However, the YouTube page could not be fetched, so I could not confirm whether Jeremy Allaire actually said Circle is exploring an Arc Network token or whether the quoted language about governance, incentives, economic interests, and a gradual transition to proof-of-stake appears there. The other provided links, including BlockBeats and the two X status URLs, also failed to fetch. Corroboration attempts using claim-oriented web and X search did not return a directly relevant authoritative source confirming the statement. Given the absence of a validated primary source or corroborating evidence in the retrieved results, the claim remains unconfirmed.
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Summary
In an official update at an event in Seoul on June 13, Circle CEO Jeremy Allaire said the company is considering a native token for its ArcNetwork layer-1 blockchain. The announcement adds to Circle’s earlier statement that an Arc Network token is under exploration and comes as the project’s testnet includes more than 100 companies, among them BlackRock, Visa, and Goldman Sachs.
Terms & Concepts
- Native token: A blockchain’s primary token used within its own network for functions such as payments, incentives, fees, or governance.
- Layer-1 blockchain: A base blockchain network with its own core infrastructure and consensus layer, rather than an application built on another chain.
- Testnet: A blockchain testing environment where developers and participants can trial network features before any potential mainnet deployment.