Crypto
Circle Launches Arc Blockchain with USDC Transaction Fees
Circle has launched Arc, a Layer 1 blockchain designed for financial markets and payments, using USDC as its transaction-fee currency.
Arc's mainnet went live with over 100 applications and more than 100 institutional and ecosystem builders already on board. The initial validator group includes major financial and payment companies like BlackRock, Mastercard, Visa, DTCC, ICE, MoneyGram, Standard Chartered, SBI Group, and Worldpay.
The blockchain aims to provide near-instant settlement of one second, allowing users to pay network fees directly in USDC instead of acquiring a separate native token. Circle's Payments Network is connected to Arc, supporting cross-border transfers that settle at low cost and with near-instant finality.