Circle launches Arc mainnet with USDC as native gas token
- Arc is a layer-1 blockchain designed for stablecoin payments and financial markets, utilizing USDC as its native gas asset.
- The network supports over 20 fiat stablecoins, including USDC, EURC, JPYC, KRW1, and TRYB.
- Arc offers Ethereum Virtual Machine (EVM) compatibility and aims for sub-second settlement finality.
- More than 100 companies participated in the public testnet, including major institutions like BlackRock and Goldman Sachs.
- Circle minted a total of 10 billion ARC tokens this week but has not committed to a public launch of the token yet.
The launch of Arc marks a significant milestone for Circle, providing a stablecoin-native infrastructure aimed at enhancing programmable money and global markets. The network’s interoperability with over twenty blockchains through Circle’s Cross-Chain Transfer Protocol (CCTP) further emphasizes its utility in diverse financial applications.
With the support of over twenty fiat stablecoins and participation from leading financial institutions, Arc represents a pivotal development in the evolution of stablecoin technology within the blockchain ecosystem.
