Circle's Arc Blockchain to Launch on Sept 16 with Major Financial Backing
Circle, the issuer of the world's second-largest stablecoin by market capitalization, USDC, has announced that its highly anticipated Arc blockchain will launch on September 16. The company revealed that it has gained significant support from major financial institutions ahead of the mainnet launch, including BlackRock and Visa.
Circle confirmed that over a dozen companies, including SBI Group, Mastercard, Standard Chartered, MoneyGram, Intercontinental Exchange (ICE), Galaxy, Global Payments, Sumitomo Corporation, and The Depository Trust & Clearing Corporation (DTCC) will serve as founding validators for Arc. This move is seen as a major milestone for the stablecoin issuer.
BlackRock has also announced plans to deploy its USD Institutional Digital Liquidity Fund (BUIDL) on the network, further underscoring the significance of Arc's mainnet launch. The company noted that it has already begun testing diverse use cases on the private mainnet with over 100 institutional partners and ecosystem builders.