Circle Acquires Malachite Engine to Power Arc L1 Blockchain

Circle, the issuer of the USDC stablecoin, has acquired the Malachite consensus engine from developer Informal Systems. This acquisition will fuel the development of Arc L1, a blockchain designed for financial applications such as stablecoin transactions and high-performance digital payments. Malachite’s open-source nature ensures continued industry access and encourages further innovation in decentralized finance (DeFi). The integration promises enhanced performance, reliability, and security for stablecoin operations while aligning with Circle’s vision of programmable money and international transactions.