Circle Launches Arc Blockchain for Enhanced Stablecoin Transactions

Circle has unveiled Arc, a new EVM-compatible Layer-1 blockchain designed to power stablecoin usage directly. USDC, Circle’s flagship stablecoin, is now the native gas token on this platform, streamlining transactions and enhancing efficiency. This move marks a significant shift in Circle’s strategy as they establish their own blockchain infrastructure for stablecoin operations. 🤔 While this transition promises to increase speed and reach for stablecoin payments, it also raises concerns about centralization and governance control due to its small initial validator set.