TLDR

• Gnosis has launched Circles 2.0, a personalized currency system where users mint their own tokens at 1 CRC per hour
• The system operates through trust connections, with 100,000 users already on the waitlist
• Circles 2.0 includes a 7% annual reduction in nominal value to encourage spending
• Users can back their CRC with assets like Bitcoin or Ethereum to establish price stability
• A Circles Marketplace for purchasing goods and services with CRC is expected to launch in coming weeks

Gnosis has officially launched Circles 2.0, a new type of personalized digital currency that allows users to create and use their own tokens without relying on banks or government institutions. The system is delivered through the newly released Metri app, a self-custodial wallet operating within the Gnosis ecosystem, and already has more than 100,000 users on its waitlist.

Announced on May 21, 2025, from Berlin, the Circles platform enables users to mint their own unique Circles currency (CRC) at a rate of 1 CRC per hour or 24 per day, as long as they maintain minimum activity levels. The expected value of CRC is anticipated to fluctuate between $0.01 and $0.05.

Unlike traditional cryptocurrencies, Circles 2.0 is built on a foundation of trust between users. When a user trusts another person on the platform, they agree to accept that person’s unique CRC tokens. This creates what Gnosis calls a “web of trust” where transactions can occur between directly connected users or through mutual connections acting as intermediaries.

Martin Köppelmann, Co-Founder of Gnosis, explained the vision behind the project: “The goal of Circles is to introduce a complementary money system that doesn’t put any participant or institution at an undue and systematic advantage over another while remaining attractive as a means of exchange and storage of value.”

How Circles 2.0 Works

The Circles platform incorporates several mechanisms designed to promote active use of the currency. All CRC balances are reduced in nominal value at a rate of 7% per year, a feature intended to encourage spending and discourage hoarding of tokens.

Users can earn additional CRC by inviting new participants to the platform or by creating trusted connections. They also have the option to exchange bridged stablecoins such as USDCe, GBPe, and EURe for CRC.

For those seeking price stability, Circles 2.0 allows users to back their tokens with assets like Bitcoin, Ethereum, or sDAI. This backing helps establish a more stable price and makes their Circles more readily tradeable within the ecosystem.

The system also introduces a group functionality, allowing users to create or join groups based on shared factors such as location, interests, events, or enterprise affiliations. This feature is designed to build stronger community connections within the Circles ecosystem.

Real-World Applications

Gnosis emphasizes that CRC is designed to be used as an actual currency between trusted connections, rather than as a digital asset for speculation or accumulation. To support this real-world utility, a Circles Marketplace is expected to launch in the weeks following the initial platform release.

The marketplace will feature trusted vendors accepting CRC for goods and services, providing users with practical ways to spend their self-issued currency. This focus on practical applications aligns with Gnosis’s stated goal of creating “vibrant local economies based on trust, community and fairness.”

The Metri app serves as the user interface for this ecosystem, making it easy for anyone to enter the world of decentralized money. Besides supporting Circles, Metri integrates with other OpenFi solutions including Gnosis Pay and CoW Swap.

The platform aims to address concerns about centralized control of money issuance while building on cryptocurrency innovations. Particular attention has been paid to avoiding the problem of “early adopter advantage” that has characterized many cryptocurrency projects.

According to Gnosis, the predictable and equitable money supply protocol creates a fairer starting point for all participants compared to traditional token distribution models. This approach is part of Gnosis’s broader vision for decentralized payment infrastructure.

The launch of Circles 2.0 represents Gnosis’s latest step toward creating what they describe as “the next evolution in a completely decentralized financial system.”