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Circle Unveils USDC-Powered Arc Blockchain Amid Strong Q2 Earnings
Circle Unveils USDC-Powered Arc Blockchain Amid Strong Q2 Earnings
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USDC News -
Circle Internet Group, the issuer of USDC, has launched Arc, a new LAYER 1 blockchain designed for stablecoin payments, foreign exchange, and capital markets. The announcement accompanied a strong Q2 earnings report, highlighting growth following a $1.2 billion IPO. Arc is positioned as an enterprise-grade solution for digital finance, aiming to overcome barriers to stablecoin adoption.
USDC, the second-largest stablecoin with $65 billion in circulation, will function as Arc's native gas token. The blockchain is EVM-compatible and offers sub-second settlement finality. Jeremy Allaire, Circle's CEO, emphasized growing interest in stablecoin integration across financial sectors.
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