Summary
- Circle announced its plan to launch its own Layer 1 blockchain, Arc, within this year.
- Arc is a USDC-based stablecoin blockchain, and transaction fees will be settled by Circle.
- Circle explained that Arc will be fully integrated with all services and platforms, and will also maintain interoperability.
Circle (USDC), the issuer of the dollar stablecoin, will launch its own Layer 1 blockchain within this year.
On the 12th (local time), Circle announced, “Arc will be launched on a public testnet this fall.” Arc is a Layer 1 blockchain based on stablecoins that Circle is currently developing. Transaction fees (gas fees) will be settled with Circle.
Transactions will be completed in less than one second. Circle stated, “Arc will be fully integrated with all of Circle's services and platforms,” and added, “It will also maintain availability and interoperability with other partner blockchains.”
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
!['Easy money is over' as Trump pick triggers turmoil…Bitcoin tumbles too [Bin Nansa’s Wall Street, No Gaps]](https://media.bloomingbit.io/PROD/news/c5552397-3200-4794-a27b-2fabde64d4e2.webp?w=250)
![[Market] Bitcoin falls below $82,000...$320 million liquidated over the past hour](https://media.bloomingbit.io/PROD/news/93660260-0bc7-402a-bf2a-b4a42b9388aa.webp?w=250)