Circle launched Arc – a new generation financial blockchain

Circle has officially announced the launch of the Arc blockchain public testnet. The project is positioned as an “economic operating system” for global financial infrastructure and has received support from more than 40 leading financial institutions.

What is Arc

Arc is an open Layer 1 network designed to integrate the traditional financial system with blockchain technology. It provides three key benefits.

1. First, predictable dollar fees, allowing investors to accurately calculate the cost of any transaction before it is sent.
2. Secondly, lightning-fast transaction finalization, which occurs in less than a second, making the system applicable in real time.
3. And finally, optional confidentiality, which ensures the protection of transaction participants’ data if necessary.

Support from financial giants

The Arc ecosystem includes a wide range of leaders in the global financial, payment and crypto industries. Among global banks, the project was supported by BNY Mellon, Deutsche Bank, HSBC, Societe Generale and State Street. The category of payment systems includes Mastercard and Visa.

Among the leading companies in the crypto ecosystem, Coinbase, Kraken, MetaMask, Ledger, Aave and Uniswap confirmed their participation.
Infrastructure support is provided by AWS, Cloudflare and Fireblocks, and market makers include Wintermute and GSR.

Area of ​​application

The Arc blockchain is designed for use in a wide variety of financial industries. It is capable of servicing lending and debt management, capital markets and securities trading, cross-border payments and transfers, foreign exchange (FX) and stablecoin liquidity management.

Integration with global stablecoins

Arc is already integrated with a number of local stablecoins from seven countries, including JPYC (Japan), BRLA (Brazil), MXNB (Mexico), PHPC (Philippines) and others. This makes the network a significant step towards creating an infrastructure for fast and cheap global payments – an alternative to the traditional SWIFT system.

News highlights

• Circle launched Arc public testnet as an alternative to SWIFT;
• More than 40 financial giants supported the project;
• The network provides predictable commissions and finalization in less than 1 second;
• Supports local stablecoins from seven countries;
• In the future, management of the network is planned to be transferred to a decentralized community.

The information is for informational purposes only and under no circumstances constitutes individual investment advice.