Circle, a publicly traded company behind the USD Coin stablecoin (USDC), will launch its own layer-1 blockchain this year named Arc. The blockchain, designed with enterprise-grade functionality in mind, will be compatible with the Ethereum Virtual Machine (EVM). 53% year-over-year revenue growth was also announced, reaching $658 million in Q2. This new network aims to offer a robust foundation for stablecoin payments, foreign exchange transactions, and capital market applications. Arc is expected to launch in public testnet this fall, using USDC as its native gas token, enabling users to settle transaction fees with the stablecoin. Circle’s mission is to provide a full-stack platform for the internet financial system with this new blockchain. The company further states that Arc will offer a fully integrated stablecoin foreign exchange engine, sub-second settlement finality, and opt-in privacy controls, integrating seamlessly across Circle’s broader platform offerings and maintaining interoperability with their existing partner blockchains.