USDC Issuer Circle Plans to Introduce New Layer-1 Arc Blockchain This Year

Circle, the company behind the USDC stablecoin, is preparing to launch a brand new Layer-1 blockchain called “Arc” later this year. This initiative is designed to encourage broader institutional acceptance of digital currencies and increase their applicability across diverse sectors. Arc will be based on an open-source and adaptable framework, empowering developers and businesses to create decentralized applications (dApps) and customized solutions tailored to their unique requirements. Furthermore, the Arc network will accommodate a wide array of digital assets, including USDC, thereby streamlining cross-border payments and settlements with enhanced efficiency and cost-effectiveness. This endeavor is anticipated to accelerate the expansion of the Web3 ecosystem and foster greater transparency and security in digital financial transactions.