Circle launches Arc blockchain testnet, with participation from hundreds of institutions including BlackRock and Visa

ChainCatcher news, Circle (the issuer of USDC) announced on Tuesday the deployment of its payment-oriented Arc blockchain's public testnet, which has attracted participation from over 100 financial institutions and technology companies, including BlackRock, Visa, HSBC, and Anthropic.

The Arc blockchain offers dollar-denominated fees, sub-second settlement, and optional privacy control features, aimed at supporting financial services such as tokenized funds, cross-border payments, and foreign exchange settlements. Circle stated that the long-term goal is to develop Arc into a decentralized, community-governed system. This move comes against the backdrop of stablecoins (currently valued at $300 billion) gradually integrating into traditional finance, with Citigroup predicting that the stablecoin market could reach $4 trillion by 2030, while BCG and Ripple estimate that the tokenized asset market could approach $19 trillion by the 2030s.