Introducing Meridian Finance Treasury Yield Infrastructure on @arc L1 Where your $USDC works while you don’t. Deposit USDC/EURC. Earn US Treasury yields. Stream payments. All on-chain. ◆ ERC-4626 yield vaults powered by Circle’s USYC ◆ x402 machine-to-machine payment gateway ◆ Autonomous AI yield agent (YieldClaw) ◆ Circle Whitelisted protocol ✅ Testnet Live ✅ Contracts Deployed ✅ Mainnet Soon Built on @circle Arc Network. Powered by USDC. 🌐 themeridian.finance Real Yield. Real Simple. The future of finance doesn’t sleep

1/ Most chains launch as an empty building, then spend three years persuading people to move the furniture in. @arc launched 16 September. By 25 September it had cash, collateral, a credit line, a money market fund and a live FX venue. Nine days.

On 14 Sept the FCA and Bank of England published FS26/1 on tokenisation in UK wholesale markets. 123 responses, including BlackRock, BNY, Euroclear, Nasdaq, Coinbase, Ripple, Chainlink, Tether. Everyone will cover the collateral finding. The paragraph worth keeping isn't about tokenisation. One of the regulatory principles: all regulated activities must have an accountable, regulated person responsible for regulatory compliance. Respondents pushed back, arguing it would be hard for DeFi firms to meet and so wasn't really tech neutral. The answer was no. Regulated activities require an identifiable person responsible for that activity, and the FCA sees no case to change the perimeter. Its reason is one line: it cannot accept solutions where customers have no recourse when assets are lost or stolen. Recourse needs somebody to have recourse against. Now the IMF, April, Note 2026/004, on a completely unrelated market: "Most payment regimes require that a payment order be traceable to an authorized instruction from an account holder or its legally recognized agent. Agent-initiated payments challenge this model, as individual transactions may not correspond to explicit, transaction-level instructions." Authorization becomes structural and mandate based. Two authorities, two unrelated markets, five months apart, same requirement, and neither has a mechanism for it. Why that matters: you told your bank to pay a supplier, one instruction, one payment, one name. You told an agent what you wanted, four hundred payments, every one authorised, none of them instructed. The legal question has an answer at the mandate and no answer at the transaction. The IMF's risk table has three columns. Source, who bears the cost, and whether there's a market failure justifying policy intervention. Eleven risks, eleven yeses. For the instruction gap the cost lands on account holders, on payment providers through disputes, and on payment systems through operational strain. Two of those three never made a decision about the agent. That's an externality, which is why the third column says yes. Separate two things that keep getting merged. Attribution asks who is responsible for this payment. Performance asks whether the thing paid for happened. The IMF's authorization layer: AP2 mandates, OAuth, ERC-1812 claims, ERC-780 registries, ERC-6900 spend limits, and ERC-8004 for agent identity and reputation, named in an IMF table under "know your agent". All of it attribution and permission. Nothing in that layer holds funds against a condition. One layer down the principle is already settled, and it took three years. @circle applied to the OCC in June 2025 and got final approval on 10 July 2026, USDC reserves in cash and short-dated Treasuries attested monthly, EURC authorised under MiCA, listed on the NYSE. A supervisor asking who is accountable for the instrument has an address. Asking who is accountable for the agent's payment, it doesn't. #AgenticAI #Payments #Stablecoins

Programmable Bitcoin can get sexy again Underlying BTC is custodied with Circle National Trust, our Federally regulated and supersized trust bank. Work your BTC dune.com/crcl/cirbtc

You didn't become a developer to manage legacy workarounds. Arc gives you a clean slate, a complete financial infrastructure stack, and the freedom to ship products that actually match your original vision.

EURC is cooking

A drone needs power. It finds a charger, verifies its identity, receives a price quote, authorizes payment in USDC, and settles on Arc. No human checkout. No waiting. Just machines transacting with machines. This is the agentic economy, live on Arc.

Two numbers nobody has put side by side. An agentic coding task: ~4.17M tokens, about $1.86. A single-step reasoning query: ~1,200 tokens, about 1.5 cents. A thousand times more tokens, and it is the INPUT side that drives it. Context compounds: the agent re-reads the instruction and its own output before every action. Now the other side. Visa and Artemis on x402: ~$15.0M adjusted across 109.6M transactions as of 21 April 2026. Mean of about 14 cents. Visa's own text says the typical payment is a fraction of a cent. Dollars to think. Cents to pay. The agent costs more to decide than the payment is worth. Which quietly rewrites the case for conditional settlement. It used to be a risk argument: don't pay for work that doesn't arrive. Cents at stake, so nobody built for it. Now it's an accounting argument. When the payment fails, you lose the payment AND the compute that produced it, and the compute is the bigger number by an order of magnitude. Three years spent driving the cost of moving a dollar toward zero. Meanwhile the cost of deciding to move it became the larger line. Caveat, stated up front: those task figures are from coding work, and inference prices fall fast. The ratio may compress. The structure holds as long as deciding costs more than paying. #AgenticAI #Payments #AIeconomics

Bitcoin liquidity is now live on Arc. cirBTC brings 1:1 BTC-backed collateral into Arc’s stablecoin-native ecosystem, helping BTC become productive across lending, trading, collateral, settlement, and treasury workflows. BTC as collateral. USDC as borrow and settlement asset. A stronger foundation for onchain credit markets. arc.io/blog/cirbtc-is-now-li…

Why financial systems needs @arc Money moves on one ledger, the record of it lives on another, and a third party reconciles the two. That gap is where days and fees come from. Arc settles the payment and the record in the same place, in the asset you already use. @jerallaire talk is available on @circle official YouTube channel. 👇 piped.video/watch?v=A4uiUaDh…

New asset listing: cirBTC, issued by Circle on Arc, is now available on Token Terminal Current market cap: $30.8M Track cirBTC and the broader tokenized asset market in one place

Every piece I've published for weeks ends with the same line. Everything runs on @arc testnet. Mainnet, with real funds, comes after a security audit and not before. I meant it. This year's data says that sentence covers the failure mode that is no longer dominant. So, me saying it before someone else does. DeFi has lost at least $1.3bn in the first eight months of 2026, on figures attributed to Forbes and CertiK. Composition matters more than the total: for the first time on record, compromised private keys overtook smart contract bugs as the leading attack vector. The industry spent a decade making its code auditable. It worked well enough that attackers moved. Three incidents, one shape. Drift, $285m on 1 April. Not a protocol flaw. Months of social engineering to reach an admin key, then a drain executed in 128 seconds. Sit with those durations together. Months against people, two minutes against machines. Everything that mattered happened before a transaction was signed. KelpDAO, $290m seventeen days later, a single compromised verifier on its bridge. One credential, in a set designed so no single member could act alone. Third one isn't a protocol. Trezor was not hacked. Not the wallets, not the firmware, no seed or private key exposed. Its shipping provider ShipMonk was breached via a maximum-severity zero-day SQL injection in Metabase, the analytics tool it ran. August: ~13,689 customers. Then 4 September: ~67,000 more US customers, from an earlier ShipMonk engagement running Nov 2019 to Aug 2021, understood to have been deleted. Names, emails, phones, shipping addresses. For a hardware wallet customer base that's a targeting list, not a nuisance. All three, the cryptography held. What failed was a person with a credential, a vendor's dashboard, and a retention policy nobody verified. None of that is what a code audit looks at. Not a criticism of auditors. It's the boundary of the engagement. So the sentence changes. Before real funds move: independent code audit, described signing perimeter, inventoried vendor and data perimeter. The audit is one of three. No date, deliberately. A published date creates pressure, and pressure is how the third one gets skipped. The same shape shows up somewhere that isn't a code audit at all. Reserve attestation is the standard control behind a stablecoin: an accounting firm examines the reserve and publishes, monthly. Real control, binds when performed. In between, anyone deciding whether to accept the instrument is reading a figure that can be weeks old, in a market that never closes. @circle 's cirBTC wrapped bitcoin ships differently. Reserve data published onchain through Chainlink Proof of Reserve, reserve addresses disclosed so you can inspect the holdings on Bitcoin yourself and compare them against supply, reserves not lent or pledged or rehypothecated, and the BTC custodied by an OCC-chartered national trust bank. Attestation isn't worthless. But a periodic control and a continuous one answer different questions, and only one can be asked at the moment you need the answer. Full post in the comment 👇 #Security #DeFi #RiskManagement #cirBTC

the interesting part isn't holding cirBTC, it's that it already works as collateral on @Morpho and @aave from day one BTC that earns its keep on the same chain your dollars and euros settle on 🔑 1:1 backed, verifiable onchain, by @circle on @arc

your bitcoin has been sitting still for 15 years three ways to change that, all through @arc Portal -> swap USDC to cirBTC directly on Arc -> bridge cirBTC from Ethereum -> holding wbtc or cbbtc, swap to cirBTC on ETH first, then bridge then it's collateral on Morpho, on the same chain your dollars and euros settle on 1:1 backed verifiable onchain. no bridge risk, no anonymous custodian, @circle on both ends 🔑 👇 portal.arc.io/

fractions of a cent every five seconds is the easy part. the hard part is the charging station knowing it's talking to a real drone and not something pretending to be one. @arc 🤝

Bonjour la France 🇫🇷 🥖 @circle @arc

@arc put the whole world in the sky tonight different countries, different languages, one thing built together. that's the part money can't buy unity → strength → results 🌎🌍🌏 Great capture @0xAmorX

New stablecoin listing: EURC on Arc is now live on Token Terminal Current market cap: $7M Track market cap, holders, senders, transfer volume & count, DeFi TVL, DEX trading volume, and more in one place

The future won’t be won by blockchains alone. It’ll be won by what moves across them. @arc The future of money is already moving @USDC #CCTP

Start with what makes this case clean: nobody should feel sorry for the victim. jaredfromsubway.eth was a sandwich bot. Watched ordinary people's trades hit the mempool and inserted itself on both sides. That category costs Ethereum traders ~$60m a year and this address is tied to ~70% of it between Nov 2024 and Oct 2025. Most successful autonomous agent on Ethereum. Also the most adversarially hardened, since every day of its life was spent racing other bots for the same trades. June 2026, drained of roughly $7.5m. Not a bug in its code. Not a stolen key. Not phishing. A counterparty. The attacker deployed 66 fake token contracts imitating the names and interfaces of WETH, USDC and USDT. Then built the scenery: fake pools, fake Cap tokens, routes assembled so that as on-chain state they read as profitable. The bot did exactly what it was built to do. Evaluated, found it good, granted the approvals. Then the move. The attacker didn't consume those approvals in the expected trade path. Left them open. A later sweep used the standing permissions to pull real WETH, USDC and USDT out via transferFrom. The logic was never broken. It was answered. Every input it could see was true. 66 contracts existed. Pools held balances. Route priced exactly as displayed. All accurate, all placed there for it to find. The question that separates real from manufactured is the one it couldn't ask: who made this, and what have they done before? That field doesn't exist on chain. And the market's response is the proof. Arkham describes its core engine as having de-anonymised 800,000+ entities, clustering shifting addresses into named actors. Somebody built a large identity layer off chain, by inference, because the ledger records transactions and not parties. Payments version is worse, not better. A trading bot that gets trapped loses its own capital. A payment agent loses someone else's money on someone else's mandate. At ~30 cents average, nobody reviews these by hand. The check is structural or it doesn't happen. Not claiming we'd have stopped it. Counterfactuals about other people's losses are cheap. Some of this can be engineered away rather than verified. Moving a token between chains has conventionally meant locking it in a bridge contract and issuing a claim against it, and those locked pools have produced several of the largest single losses in this industry. @circle 's CCTP burns $USDC on the origin chain and mints it natively on the destination, so there is no pool to attack and no wrapped derivative whose backing you take on trust. Circle also states it runs no competing exchange and no lending protocol, and that its wrapped BTC reserves are not lent, pledged or rehypothecated. Read that as a counterparty statement, not a marketing one. What cannot be designed away is the part above, and nothing in this stack checks it today. #AgenticCommerce #Security #Payments

Congrats to the @arc and @circle team. First publicly traded company to mint a network token for a new blockchain, that's a real milestone. Now read the post carefully before you get excited. ARC is minted. It is not live, not tradeable, not active for staking or governance. The network is still Proof of Authority today. 🚨 Anything you see trading under that name right now is not it. Verify on the official explorer, and follow the Arc team and your chapter leads for what's real.