Circle Launches Arc Layer-1 Blockchain Amid CRCL Stock Dip
Circle unveiled the public testnet of Arc, a new Layer-1 blockchain network designed to facilitate institutional settlement with USDC as native gas. Despite partnerships with financial heavyweights like BlackRock, HSBC, and Visa, CRCL stock slipped 2% to $140 following the announcement.
The Arc blockchain targets sub-second finality, positioning itself as the economic operating system for internet-based finance. Over 100 design participants, including Goldman Sachs, NYSE, and AWS, are testing its capabilities across global markets.
Market reaction appeared muted to the institutional endorsement, with CRCL shares declining during pre-market trading. The disconnect highlights ongoing volatility in crypto-related equities despite significant ecosystem developments.