Circle Acquires Malachite Engine for New Arc Blockchain Network

Informal Systems, a pioneer in blockchain infrastructure and protocol design, announced that its highly-performant consensus engine, Malachite, has been acquired by Circle Internet Group (NYSE: CRCL), a global financial technology firm. This acquisition will power the launch of Arc1, a new open Layer-1 blockchain network specifically designed for stablecoin finance. The beta version of Arc is expected to launch in testnet later this year.