Extended completes move to Circle's Arc, shifting about $120M from Starknet
In brief
- Extended completed its Arc migration October 22, 2026, at 13:00 UTC, per Crypto Briefing.
- About $120 million in TVL moved off Starknet without a trading halt.
- Native USDC is now the main collateral; Circle-issued cirBTC is the Bitcoin collateral asset.
- USDT and wBTC aren't supported on Arc; ETH balances converted automatically to wETH.
What moved, and what didn't
Extended shifted its settlement infrastructure from Starknet to Arc, carrying approximately $120 million in total value locked, according to the exchange's figures as reported by Crypto Briefing. It didn't halt trading to do it. Open positions and orders carried over intact, per the report.
There was one interruption. Deposits and withdrawals paused briefly during the transition (both have since been restored).
Collateral changes for USDT, wBTC and ETH holders
The collateral menu on Arc is narrower than it was on Starknet. USDT and wBTC aren't supported. Users holding more than $1 of either had until October 21, 2026, to withdraw or convert into USDC or cirBTC at a 1:1 rate plus a 0.50% premium, according to the report.
ETH holders didn't have to do anything. Their balances were converted automatically to wETH during the migration.
What Arc brings to the exchange
Arc is Circle's EVM-compatible Layer 1 blockchain, and its mainnet launched on September 16, 2026. The network offers sub-second deterministic finality, and gas fees on it are paid in USDC. Its founding validators include BlackRock, DTCC, ICE, Visa and Mastercard, according to Crypto Briefing.
The move also gives Extended access to Circle's Cross-Chain Transfer Protocol (CCTP), which moves USDC natively between blockchains rather than relying on wrapped versions issued by third-party bridges. For a perps venue that's now built around USDC collateral, it's a notable piece of plumbing.
Crypto Briefing described the migration as the first step in a broader partnership between Extended and Circle.
The report doesn't commit either company to specific next phases. Extended reports more than $200 billion in lifetime trading volume across multiple asset classes, including traditional stocks and digital currencies (a figure that comes from the exchange itself and hasn't been independently verified in the report).
Frequently asked questions
What is cirBTC, the Bitcoin collateral Extended now uses?
cirBTC is a token issued by Circle and backed 1:1 by Bitcoin. On Arc, Extended accepts it as its Bitcoin collateral asset, alongside native USDC as its main collateral.
What happened to USDT, wBTC and ETH balances on Extended after the Arc migration?
USDT and wBTC aren't supported on Arc. Users holding more than $1 of either had until October 21, 2026, to withdraw or convert into USDC or cirBTC at a 1:1 rate plus a 0.50% premium. ETH balances were converted automatically to wETH during the migration.
What is Circle's Arc blockchain?
Arc is Circle's EVM-compatible Layer 1 blockchain, with a mainnet that launched on September 16, 2026. It offers sub-second deterministic finality, gas fees are paid in USDC, and its founding validators include BlackRock, DTCC, ICE, Visa and Mastercard.
