Circle Internet Group, Inc. announced the launch of the public testnet for Arc, an open Layer-1 blockchain network designed to meet the needs of developers and companies bringing more economic activity onchain. The launch arrives with broad-based engagement and collaboration from more than one hundred companies across the financial and economic system, deep infrastructure support, and global participation. Arc is now available for developers and enterprises to deploy, test and build on what Circle describes as the new Economic Operating System (“OS”) for the internet.
Financial Technology Insights: Binance.US Partners with AptPay to Power Real-Time Payments
“Arc presents the opportunity for every type of company to build on enterprise-grade network infrastructure—advancing a shared vision that a more open, inclusive, and efficient global economic system can be built natively on the internet.”
Arc represents a major step forward in building open, programmable financial infrastructure for the global economy. Featuring predictable dollar-based fees, sub-second transaction finality, opt-in configurable privacy, and direct integration with Circle’s full-stack platform, Arc enables a wide range of use cases across lending, capital markets, foreign exchange (FX), and global payments.
Financial Technology Insights: Haven and Altaline Acquire Saratoga Compliance Solutions
“With Arc’s public testnet, we’re seeing remarkable early momentum as leading companies, protocols, and projects begin to build and test. Combined, these companies reach billions of users, move, exchange, and custody hundreds of trillions in assets and payments, and support local economies across Africa, the Americas, Asia, Europe, and the Middle East. This geographic diversity highlights a defining strength of Arc: its purpose-built to connect every local market to the global economy,” said Jeremy Allaire, Co-Founder, Chairman and CEO of Circle. “Arc presents the opportunity for every type of company to build on enterprise-grade network infrastructure—advancing a shared vision that a more open, inclusive, and efficient global economic system can be built natively on the internet.”
The Arc Ecosystem Is Growing
Capital Markets
At the very foundation of our economic system are markets for capital including equity, fixed income and derivatives, and the crucial clearing and custody infrastructure that power them. Upgrading the financial system onto a new economic operating system paves the way for significant improvements in efficiency, innovation, and reach.
Financial Technology Insights: Netcore Cloud Strengthens Leadership for Global Growth
Banks, Asset Managers, and Insurers
Retail and institutional banks, as well as asset managers and insurers, are crucial purveyors of capital, credit, investing, payments, and treasury infrastructure worldwide. Opportunities in payments, lending, asset issuance, and capital markets are rapidly expanding onchain.
To share your insights with the FinTech Newsroom, please write to us at info@intentamplify.com
Source : businesswire