Circle Launches Arc Blockchain with Over 100 Partners and USDC-Powered Network

Circle has launched its Arc Layer 1 blockchain, designed for stablecoin payments and tokenized financial markets. The network uses USDC as its gas asset, providing sub-second settlement finality and compatibility with the Ethereum Virtual Machine.

Founding validators include BlackRock, DTCC, Visa, Mastercard, Intercontinental Exchange, and Standard Chartered, among others, with over 100 applications and institutional partners participating at launch. Circle also completed the genesis mint of 10 billion ARC tokens but clarified that this does not commit the company to a public token launch.

CEO Jeremy Allaire called Arc the most consequential launch in the company's history, surpassing even USDC. The network currently operates under permissioned proof of authority and is targeting a transition to proof of stake by 2027.