Circle launches Arc blockchain with major financial institutions as validators

Circle is set to launch its Arc blockchain mainnet on September 16, featuring 11 founding validators including BlackRock, DTCC, Visa, Mastercard, and ICE. These institutions will participate in transaction finalization through a permissioned Proof-of-Authority consensus model. While BlackRock has invested in ARC tokens and plans to deploy its BUIDL fund on the network, Circle clarifies that validators are not responsible for the legality or functionality of third-party applications built on the chain. The network is designed for financial firms requiring deterministic finality.