Circle, the company behind USDC stablecoin, is launching its blockchain platform, Arc, with direct support from Fireblocks. This integration will grant 2,400 financial institutions instant access to Arc upon launch. Fireblocks, a leading digital asset custody provider, has long been a key partner for banks and asset managers, and its clients will be able to transact on Arc directly starting immediately. Arc is expected to go live later this year, offering early access for testing and full release by the end of the year. This early integration marks a departure from traditional blockchain projects that often wait for years before gaining support from custody platforms like Fireblocks. 2023 has seen Circle expand its presence following an IPO and strong regulatory progress. Circle’s revenue soared, reaching $658 million in Q2, driven by the stablecoin’s growth. USDC circulation surged to $65 billion in August, while Circle also unveiled the Circle Payments Network for expanding digital payments services. 2023 has seen a growing market demand for stablecoins. Circle’s USDC currently holds a 25% share of the fiat-backed stablecoin market, facing competition from Tether, which maintains its leadership with a 60% share. This announcement underscores the increasing rivalry in the stablecoin space as new projects and technologies emerge. Other notable players like Stripe’s Tempo network and Robinhood’s layer-2 network for asset tokenization are also entering the arena, indicating a shift towards blockchain solutions for financial transactions.