Circle Launches Arc Layer-1 Blockchain for Stablecoin Payments

Circle has launched its Layer-1 blockchain, Arc, designed for stablecoin-native finance. The network uses USDC as the native gas token and supports over 20 fiat-backed stablecoins, including EURC, JPYC, KRW, and TRYB, with sub-second settlement. The platform is currently EVM-compatible and utilizes a Proof of Authority consensus mechanism, with plans to transition to Proof of Stake by 2027.