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Crypto revolution: Circle launches Arc – the new economic system!
Circle launches the Arc testnet with over 100 partners, including Visa and BlackRock, for a new economic operating system.
Crypto revolution: Circle launches Arc – the new economic system!
Circle today officially launched a new testnet called Arc that will act as an economic operating system for the Internet. This innovative project attracts over 100 finance, technology and payments companies to actively participate in Layer 1 adoption. Loud Daily Hodl Arc aims to offer a range of features including predictable dollar-based fees, faster sub-second transaction finality, and customizable privacy.
Circle CEO Jeremy Allaire highlights that Arc will integrate directly with Circle's existing platforms to support areas such as lending, capital markets, foreign exchange and global payments. The testing phase is already showing initial success as leading companies, protocols and projects begin to use the testnet release to develop innovative solutions.
Significant participants and their reach
The variety of participating companies is remarkable as they reach billions of users and manage hundreds of trillions in assets and payments. The geographic diversity of participants spans major economic regions including Africa, the Americas, Asia, Europe and the Middle East. Key participants include capital markets firms such as Apollo and BNY, financial giants such as BlackRock and Goldman Sachs, and payment service providers such as Visa and Mastercard.
Stablecoin issuers from Australia, Brazil and Japan are also involved in the project. This international commitment underlines the global relevance of Arc's economic operating system.
Technological support and developer tools
The platform benefits from various developer tools provided by Alchemy, Chainlink and Anthropic. In addition to the technical infrastructure, Arc receives liquidity support from major players such as Coinbase and Uniswap, further improving efficiency and user experience.
Overall, the introduction of the Arc test phase shows the potential that this new innovation platform holds for the digital economy and how central companies like Circle and their partners could be in transforming the financial landscape. The coming months will be crucial in determining the extent to which this initiative will shape the way payments are processed globally.