Key Takeaways
- Circle launched public testnet for its Arc blockchain targeting institutions.
- Arc is a Layer-1 blockchain using USDC as its native gas token.
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Circle, a stablecoin issuer, began testing its Arc blockchain with major institutions, according to a Tuesday press release. The enterprise-grade Layer-1 blockchain uses USDC as native gas for stablecoin-powered financial applications.
Arc enters public testnet phases with features like instant settlement and privacy options, integrated with Circle’s platform for stablecoin finance. The blockchain targets institutional use cases requiring fast transaction processing and regulatory compliance.
The testing phase allows major financial and tech entities to evaluate Arc’s capabilities before potential full deployment. Circle has positioned the blockchain as a solution for enterprises seeking stablecoin-native infrastructure with institutional-grade features.