In brief
- Circle launched the public testnet for Arc, its Layer-1 blockchain network, with participation from over 100 companies including BlackRock, Visa, Goldman Sachs, AWS, and major crypto exchanges like Coinbase and Kraken.
- The blockchain is designed as an “Economic Operating System” featuring dollar-based fees, sub-second transaction finality, and optional privacy for financial applications like lending, capital markets, and global payments.
- Regional stablecoin issuers from Japan, Brazil, and Canada have joined the testnet, with Circle planning to transition Arc toward distributed governance and expanded validator participation long-term.
USDC stablecoin issuer Circle launched the public testnet for its Layer-1 blockchain network Arc Tuesday, with participation from over 100 companies including BlackRock, Visa and Amazon Web Services.
Circle CEO Jeremy Allaire said the project has “remarkable early momentum,” in a press release. “Arc presents the opportunity for every type of company to build on enterprise-grade network infrastructure—advancing a shared vision that a more open, inclusive, and efficient global economic system can be built natively on the internet,” he added.
A testnet is separate blockchain mimicking the main blockc
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Author: Decrypt Staff
