Circle's New Arc Blockchain Attracts Big-Name Backers
Circle Internet Group has announced Arc, a new blockchain designed specifically for stablecoin-driven transactions. This platform will be natively built for Circle's USDC stablecoin and is expected to give it an edge against its decentralized rival, OUSD.
The Arc blockchain will enable fast and secure cross-border settlements, as well as tokenized real-world assets. It will also run 24/7 and instantly crosses borders, making it a faster, cheaper, and more flexible alternative to SWIFT transfers.
Arc has already attracted major backers such as BlackRock, Visa, Mastercard, Standard Chartered, MoneyGram, and Intercontinental Exchange, the parent company of the New York Stock Exchange. This support is expected to make Circle's stock a more attractive investment for analysts who believe it could silence bears and draw investors back.