Summary
- Circle said it is reviewing issuing a new token to be used on the Arc Layer 1 blockchain.
- This announcement is interpreted as Circle attempting to expand its business from a stablecoin-centered model into blockchain infrastructure and the utility token area.
- Circle said it is preparing the Arc mainnet and expanding the ecosystem through integration with decentralized finance(DeFi) and various partnerships.
USDC issuer Circle hinted at the possibility of launching a new token to expand its own blockchain ecosystem.
On the 12th (local time), according to DL News, a crypto asset (cryptocurrency) specialized media, Circle said at its third-quarter earnings announcement, "We are reviewing the issuance of a new token to be used on Arc, its native Layer 1 blockchain."
This announcement is interpreted as Circle's move to expand its business beyond a stablecoin-focused model into blockchain infrastructure and the utility token area.
Circle is preparing the Arc mainnet and is pursuing various partnerships to support the developer ecosystem and integrate decentralized finance(DeFi).
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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