Circle Launches Arc Blockchain to Bolster USDC Dominance in Stablecoin Market

Circle, the company behind the widely used USDC stablecoin, has taken a significant step towards solidifying its position within the growing stablecoin ecosystem. The company unveiled a new Layer-1 blockchain platform named Arc, designed specifically for applications involving stablecoins and capital markets. This move allows Circle to integrate USDC more deeply into blockchain infrastructure, leveraging the stablecoin as its native gas token on the new network.