Circle Launches Arc Testnet With BlackRock, Visa, and AWS — A New Era for Stablecoin Infrastructure
Circle launched the public testnet for its proprietary Layer 1 blockchain, Arc, backed by major firms like BlackRock and Visa.Summary
Circle, the issuer of USDC, has launched the public testnet for its new Layer 1 blockchain, Arc, which aims to create an open and efficient global economic system. The project has garnered support from over 100 global firms, including BlackRock, Visa, AWS, Goldman Sachs, and Coinbase. Arc is designed to address the high, volatile fees associated with relying on public chains like Ethereum by utilizing USDC as its native gas token, ensuring predictable and economically efficient costs suitable for enterprise financial infrastructure. The testnet allows experimentation with applications like lending, capital markets, and global payments. This move follows a trend where stablecoin issuers, like Tether and Stripe, are building proprietary Layer-1 solutions to control settlement infrastructure, embed compliance features, and optimize performance for payment use cases, moving away from dependence on general-purpose blockchains.
(Source：BeInCrypto)