Circle Names Major Firms to Secure Arc Blockchain Launch

Circle, the company behind the USDC stablecoin, has named a group of validators to secure its Arc blockchain when it launches on September 16. The validators include major financial institutions like Visa, Mastercard, and BlackRock, as well as fintech companies such as Galaxy and Global Payments.

The launch of Arc's public mainnet marks an important milestone for Circle, which has seen significant growth in the past quarter. In its Q2 earnings report, the company reported a net income of $48 million against a loss of $482 million a year earlier.

Circle's revenue and reserve income reached $701 million, up 7% year-over-year, while its USDC stablecoin saw a 19% increase in circulation to $73.3 billion. The company also announced that it has secured final approval from the U.S. Office of the Comptroller of the Currency (OCC) for a national trust bank charter.

The validators named by Circle will play a crucial role in securing the Arc network and enabling its use cases, including tokenization and digital payments. BlackRock is expected to deploy its BUIDL tokenized money market fund on Arc, while DTCC will enable tokenization of assets it custodies from 2027.