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Circle launched the Arc Blockchain Testnet, with participation from hundreds of institutions including BlackRock and Visa.
ChainCatcher news, Circle (the issuer of USDC) announced on Tuesday the deployment of its payment-oriented Arc Blockchain's public Testnet, which has attracted over 100 Financial Institutions and tech companies, including BlackRock, Visa, HSBC, and Anthropic. The Arc Blockchain offers USD-denominated fees, sub-second Settlement, and optional privacy control features, aimed at supporting tokenization of funds, cross-border payments, and forex Settlement. Circle stated that the long-term goal is to develop Arc into a Decentralization, community-governed system. This move comes against the backdrop of stablecoins (currently with a market capitalization of $300 billion) gradually integrating into TradFi, with Citigroup predicting that the market capitalization of stablecoins could reach $4 trillion by 2030, while BCG and Ripple estimate that the tokenized asset market size could approach $19 trillion by 2033.