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Circle Launches Arc to Bring Finance onto the Blockchain
Key Takeaways
- Circle has launched a public testnet for Arc, a blockchain network built to bring financial services onchain using its USDC tools;
- Over 100 firms, including BlackRock, Visa, and Goldman Sachs, are testing Arc to explore faster, cost-effective financial operations;
- Arc supports stablecoins, cross-border payments, and tokenized assets, with early participants from Japan, Brazil, Mexico, and the Philippines.
Circle, the company behind the USDC
This system is designed to bring financial services onto blockchain in a way that is accessible and useful for businesses around the world.
Over 100 companies from finance and technology are already part of the early testing phase. These include major institutions such as BlackRock, Goldman Sachs, Visa, Mastercard, and State Street.
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Circle calls Arc an "Economic Operating System for the internet" and describes it as a base layer where financial companies can build and test digital services.
Arc supports fixed, dollar-based fees and very fast transaction times. The system integrates directly with Circle’s stablecoin tools and is intended to support global use cases, including loans, trading, cross-border payments, and currency exchange.
The network’s design also helps connect financial activity across regions, including Africa, Asia, and the Americas.
Another focus is support for stablecoins and tokenized assets. Arc works with tokens linked to local currencies and digital funds. Early participants from seven different countries have joined, including JPYC (Japan), BRLA (Brazil), MXNB (Mexico), and PHPC (Philippines).
Additionally, Arc is being built to work with crypto tools and services. Wallets, developer platforms, and bridge protocols like Chainlink
Brian Armstrong, CEO of Coinbase