Circle Unleashes Arc Mainnet with USDC-Powered Blockchain
Circle launched its Arc mainnet on September 16, marking a significant milestone in the development of its USDC-powered Layer 1 blockchain. The network is designed for financial services, including stablecoin payments and foreign exchange, and boasts deterministic sub-second settlement for applications.
Arc uses USDC as its native gas asset, allowing developers to build applications using Solidity contracts and familiar Ethereum development tools. The network's public mainnet follows an Arc testnet that processed over 700 million transactions, with Circle recording 502 million cumulative testnet transactions and 2.8 million transacting wallets as of June 30.
The launch features eleven institutional validators, including BlackRock, DTCC, Visa, Mastercard, and Standard Chartered, under a permissioned Proof-of-Authority model. Fees are denominated and paid in USDC, making them predictable as transaction demand changes.