Circle's Arc Blockchain Launches with USDC as Native Gas Token

Circle's new Layer-1 network, Arc, has officially launched on public mainnet. This blockchain is specifically designed for payments, tokenized assets, lending, and trading, with US Dollar Coin (USDC) as its native gas token.

Arc is not a general-purpose chain but an 'Economic OS for the Internet' that targets one cent per transaction fee in USDC. This predictable pricing is made possible because every transaction fee on the network is denominated in dollars.

The network boasts sub-second deterministic finality and is EVM-compatible, allowing developers to port existing Ethereum-based applications without rewriting their code from scratch. Arc also connects to over 20 other blockchains out of the gate.

Arc's validator set includes prominent institutions such as BlackRock, Visa, HSBC, and DTCC, among others, with over 100 participating as validators and ecosystem builders on day one. This institutional lineup is a significant aspect of Arc's launch, suggesting potential use cases for securities settlement infrastructure.