Circle executive Kris Gower argues that the Arc blockchain and the USDC stablecoin could reduce settlement failures and costs in securities lending through transactions settling in under a second, 24 hours a day. Arc allows institutions to post tokenized collateral against USDC and also targets tokenized repo operations, which resemble short-term secured loans. The network’s public mainnet launched on September 16, 2026, with more than 100 institutional partners, including a collaboration with DTCC aimed at tokenizing securities. USDC circulation reached approximately $74 billion in late October 2026, while ARC, which has a total supply of 10 billion tokens, is planned to support network security and governance. Success will depend on actual settlement volumes, expansion beyond pilot programs, and how broadly Circle distributes the ARC tokens.
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