Circle Launches Arc Blockchain, Impacts CRCL Stock

Circle has launched its own blockchain network called Arc, aiming to power the next generation of global financial activity for internet-based transactions. This public testnet launch comes amidst a dip in CRCL stock prices, signaling potential market uncertainty surrounding Circle’s new platform. 100+ companies including BlackRock, HSBC, Visa, and AWS participated in testing, highlighting Arc’s ambition to become the backbone for financial operations on the internet. The stablecoin issuer boasts that USDC will serve as native gas with sub-second finality, positioning Arc as a key competitor for institutional settlement flows in the crypto market.