Circle Unveils Arc: A New Blockchain Built for Stablecoins and Powered by USDC

Description

Circle, the issuer of USD Coin (USDC), has announced plans to introduce its own Layer 1 blockchain, Arc, designed specifically for stablecoin-focused applications. The launch follows the company’s $1.2 billion initial public offering (IPO) in June and is scheduled to debut on a public testnet later this fall. According to Circle, Arc will be an enterprise-grade, EVM-compatible blockchain supporting payments, foreign exchange, and capital markets use cases. The network will use USDC as its native...