Circle debuts Arc testnet with participation by BlackRock, Goldman Sachs, Visa

Circle, the second-largest stablecoin issuer, has launched the public testnet for Arc, its open layer-1 blockchain network intended to bring global financial infrastructure onchain, which Circle terms the "Economic Operating System for the internet." The testnet launch has attracted over 100 major companies across banking, capital markets, and fintech, including BlackRock, Goldman Sachs, Visa, Mastercard, and State Street. Arc is designed to offer predictable US dollar-based fees, sub-second finality, and optional privacy, integrating directly with Circle's USDC stablecoin. The network aims to support diverse financial applications like lending, capital markets, global payments, and FX, connecting local markets globally. Key participants also include BNY Mellon, Apollo, and various payment firms. Furthermore, Arc supports fiat-pegged tokens from several countries and integrates with major Web3 infrastructure providers like MetaMask and Chainlink, with plans for AI integration and a future transition to a community-governed network.

(Source：Cointelegraph)