Stablecoin News: Circle (CRCL) Launches Onchain FX Engine on Arc Blockchain
Circle launched StableFX, a new stablecoin foreign exchange engine, on its Arc blockchain to modernize and streamline onchain currency trading for institutions.Summary
Circle, the issuer of USDC, has launched StableFX, a new stablecoin-powered foreign exchange engine, on the testnet of its Arc layer-1 blockchain. This service is designed to modernize cross-border payments and institutional currency trading by enabling on-chain settlement around the clock with reduced counterparty risk, addressing the delays inherent in traditional FX markets.
The StableFX platform allows verified institutional users to trade stablecoin-denominated currency pairs using real-time settlement and Request-for-Quote (RFQ) pricing from multiple liquidity providers. To support broader currency options, Circle is also introducing the Circle Partner Stablecoins program, which includes initial regional stablecoin issuers like Avenia (BRLA), Juno (MXNB), and Stablecorp (QCAD).
(Source：CoinDesk)