Circle debuts Arc blockchain which Jeremy Allaire calls ‘more consequential’ than USDC
The USDC issuer's chain is built for payments, tokenized assets and institutional finance as banks and payment giants pile into the stablecoin market.
Circle CRCL$85.12·Market Closed launched its Arc blockchain on Wednesday, making its biggest push yet beyond issuing the $74 billion stablecoin USDC
Competition is heating up to among the largest blockchain companies to provide the rails for moving money and financial assets onchain.
“This is, I believe, the most consequential major platform launch in our history, and I think an even more consequential launch than USDC itself,” said Circle CEO Jeremy Allaire during a press briefing.
Arc was designed around some of the friction that has kept traditional financial institutions from using existing blockchains, Allaire said.