Launch of Arc: Circle's Interoperable Layer 1 Blockchain Platform
Circle Internet Group, Inc. announces plans to launch Arc, an EVM-compatible Layer 1 blockchain that uses USDC as gas for transaction fees. Arc represents a new step in adopting USDC as a key operational element within its own blockchain network, with an emphasis on regulatory compliance and market transparency.
It is confirmed that USDC is currently classified as one of the fiat-backed digital currency assets among the largest by market capitalization, valued at approximately $65.23 billion.
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