Circle Unveils Arc Blockchain with Major Financial Backing

Circle Internet Group has unveiled its new blockchain, Arc, which is specifically designed for stablecoin-driven transactions. The platform will give Circle's USDC a significant edge over its decentralized rival, OUSD.

Arc won't launch until September, but it already has major backers such as BlackRock, Visa, Mastercard, Standard Chartered, MoneyGram, and Intercontinental Exchange. This level of support makes Circle's stock more attractive to investors.

Unlike general-purpose blockchains like Ethereum and Solana, Arc is built from the ground up for stablecoin-based transactions. It's also faster and cheaper than traditional SWIFT transfers, moving money in less than half a second for a fraction of a cent.