Circle Internet Group has just launched the public testnet of Arc – a new Layer 1 blockchain designed to support large-scale financial and enterprise applications onchain.
Described as the “economic operating system for the Internet,” Arc has attracted more than 100 participating organizations across banking, capital markets, payments, and technology. The testnet is now open for developers and businesses to deploy, test, and build applications.
“Arc is seeing strong momentum as leading global companies start building and testing,” said CEO Jeremy Allaire. “Arc’s goal is to connect every local market to the global economy.”
Arc is designed with flat USD fees, sub-second transaction confirmations, privacy options, and direct integration with Circle's platform. The network aims to provide enterprise-grade infrastructure for global payments, capital markets, foreign exchange, and lending.
Following a successful $1.2 billion IPO, Circle announced plans to develop Arc in August, using USDC as a gas token. Circle is now the world's second-largest stablecoin issuer, with $76 billion in USDC out of a total supply of about $292 billion in USD-pegged stablecoins.
Several major financial institutions have participated in the testnet, including Apollo, BNY Mellon, ICE, State Street, BlackRock, Goldman Sachs, Deutsche Bank, HSBC, SBI Holdings, Standard Chartered, and many others. In the technology and payments space, AWS, Visa, Mastercard, Cloudflare, Brex, Nuvei, Paysafe, and Vodafone are participating.
Arc also supports the issuance of stablecoins and tokenized assets such as AUDF, BRLA, JPYC, KRW1, MXNB, PHPC, QCAD, with plans to expand to tokens anchored to USD, EUR and many other fiat currencies.
Follow CoinMoi to update the hottest issues of the crypto market okay!!!
The article Circle launches Arc public testnet, attracts over 100 participating organizations appeared first on CoinMoi .




