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Circle has launched its Arc Layer 1 network, bringing USDC-based fees, sub-second settlement, and major financial institutions onchain.
ByGeorge Georgiev
Circle, the company behind USDC, has officially launched the public mainnet of Arc today. This is a Layer 1 blockchain as infrastructure built specifically for financial markets, payments, and AI-powered economic activity.
According to the firm’s official announcement, the protocol debuts with more than 100 institutional and ecosystem participants.
USDC, the stablecoin with more than $74 billion in circulating supply, is integrated in the network directly as the main gas token, meaning that users will have a degree of predictability that other networks might lack.
USDC Powers Network Fees
Unlike most Layer 1 networks, which have a USD-denominated cryptocurrency as the native token, Arc allows users to pay for transaction fees directly with USDC.
Circle also says that the network provides sub-second finality and supports assets including USDC, EURC, and tokenized real-world assets.
Some of the founding validators include BlackRock, Mastercard, Visa, Standard Chartered, Galaxy, ICE, DTCC, and MoneyGram. Crypto firms, on the other hand, include Binance, Coinbase, Kraken, Bybit, Aave, Morpho, Uniswap, MetaMask, and others.
ARC Token Into Spotlight
Circle also revealed that it has minted the full initial supply of 10 billion ARC tokens earlier this week. The company, however, stressed that this does not confirm a public token launch.
Source: cryptopotato.com
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