Circle's Arc testnet debuts with over 100 global partners and institutions
Major financial players evaluate the new blockchain, aiming for instant settlements, privacy, and compliant stablecoin ecosystems in enterprise finance.
Key Takeaways
- Circle launched public testnet for its Arc blockchain targeting institutions.
- Arc is a Layer-1 blockchain using USDC as its native gas token.
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Circle, a stablecoin issuer, began testing its Arc blockchain with major institutions, according to a Tuesday press release. The enterprise-grade Layer-1 blockchain uses USDC as the native gas for stablecoin-powered financial applications.
Arc enters the public testnet phase with features like instant settlement and privacy options, integrated with Circle’s platform for stablecoin finance. The blockchain targets institutional use cases requiring fast transaction processing and regulatory compliance.
Circle is collaborating with Fireblocks to boost stablecoin adoption among financial institutions using ARC for interoperability. Institutions are joining Circle’s Alliance Program to collaborate on building with USDC, focusing on enabling an on-chain economy through networks like ARC.
The testing phase allows major financial and tech entities to evaluate Arc’s capabilities before potential full deployment. Circle has positioned the blockchain as a solution for enterprises seeking stablecoin-native infrastructure with institutional-grade features.
