Market News

Circle's Arc Blockchain: A Major Leap for Stablecoin Infrastructure with BlackRock, Visa, and AWS

Circle has officially launched the public testnet for its innovative Arc blockchain, positioning itself at the forefront of stablecoin development.

This initiative has received backing from over 100 notable firms, including major players such as BlackRock, Visa, and Amazon Web Services (AWS).

Circle’s CEO, Jeremy Allaire, highlighted that Arc is designed to foster an open and efficient global economic system.

Unlike existing systems like Ethereum, which face high fees, Arc uses USDC as its native gas token, offering predictable costs for users.

The testnet supports various financial applications such as lending and global payments, expanding the capabilities of stablecoin technology.

Moreover, BDACS plans to launch its KRW1 stablecoin on this platform, enhancing Korea's position in the global fintech landscape.

Visa is also increasing its support for stablecoins across multiple blockchains, recognizing their potential to revolutionize payment systems.

The company has already facilitated over $140 billion in crypto and stablecoin transactions, signaling robust growth in this sector.

As major financial and tech institutions align to support stablecoins, the future of digital currencies appears increasingly promising.

With these developments, the integration of stablecoins like USDC into mainstream finance could unlock new opportunities for global transactions.