The launch marks a transition from a permissioned testnet that recorded over 700 million transactions to a live environment running on a Proof-of-Authority model. Arc distinguishes itself by eliminating the need for users to hold volatile network tokens for fees, instead requiring all transactions to be settled in USDC. Developers gain access to Ethereum Virtual Machine compatibility, allowing for the deployment of existing Solidity contracts and familiar development tools.
In section Cryptocurrency
Circle Launches Arc Blockchain With Institutional Backing
Circle has officially activated the public mainnet for Arc, a Layer 1 blockchain designed for institutional finance that utilizes USDC as its native gas asset. The network aims to bridge traditional capital markets and digital assets by offering sub-second settlement and native support for tokenized funds and stablecoins.
Eleven major financial institutions serve as founding validators, including BlackRock, DTCC, Visa, Mastercard, and Standard Chartered. The ecosystem supports 22 fiat-linked stablecoins and tokenized products such as BlackRock’s BUIDL and Janus Henderson’s JAAA. While Circle has minted 10 billion ARC tokens to establish the network's initial supply, the company clarified that no public token launch has occurred. SEC filings reveal that Circle previously secured $242.2 million through private token sales, with investors agreeing to multi-year transfer restrictions tied to a potential future transition to a Proof-of-Stake consensus mechanism.
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