CRC is a personal token issued by each user at a fixed hourly rate, designed to function as a local currency between trusted peers in the Circles ecosystem

Quotes that support claims

Each user issues their own CRC token, and trust connections determine who accepts which CRC. This creates an organic, transitive trust network where:

Gnosis, the architects of open applications and infrastructure for the new economy, today announced the launch of Circles 2.0, a radically new kind of personalised currency that anyone can create and use without needing a bank or government. Instead of relying on a centralised institution to print and set the value of money, each person issues their own Circles currency, which they can send and receive from people they trust. Circles 2.0 is delivered by the newly launched Metri app, the consumer-friendly, self-custodial wallet operating within the Gnosis ecosystem.