Circle Launches Arc Mainnet with Major Financial Validators
- Circle launched the public mainnet of its Arc layer-1 blockchain on Sept. 16, targeting financial markets and payments.
- The initial validator pool includes major companies like BlackRock, Visa, and Mastercard.
- Circle minted an initial supply of 10 billion ARC tokens but clarified this does not indicate a public token launch.
- Arc is compatible with the Ethereum Virtual Machine and uses USDC for transaction fees.
- Over 100 applications and institutional participants are integrated into the Arc ecosystem, including DeFi protocols like Aave and Uniswap.
The launch of Arc aims to provide infrastructure for institutions involved in stablecoin transactions and tokenized assets, enhancing efficiency in financial markets. Circle is also considering transitioning from a proof-of-authority to a proof-of-stake model by next year.
With the genesis mint of its entire ARC supply completed, Circle is positioned to support over $3 billion in fully diluted network valuation following a presale earlier this year.
