The issuer of USDC, Circle, continues to accelerate its vision of a global financial infrastructure based on stablecoins. Following its debut on NASDAQ (CRCL), the company announced the acquisition of Malachite, a modular consensus engine designed with Byzantine Fault Tolerance (BFT) based on Tendermint.
With this acquisition, Circle is preparing to launch Arc1, a public layer 1 blockchain focused on payments with stablecoins, scheduled for later this year.
Key Points
Malachite provides an efficient and secure consensus engine, ideal for scaling stable and reliable transactions.
USDC expansion: circulation grew by 90% year-on-year, driven by institutional demand.
Financial results: Circle reported revenues of $658M (+53% YoY), although a net loss of $482M due to IPO costs.
Strategic vision: Jeremy Allaire (CEO) and Jeremy Fox-Geen (CFO) confirmed that Circle is betting on selective acquisitions, not massive ones.
Current market position
The integration of Malachite strengthens Circle at a key moment: the competition for dominance in payment blockchains is growing. Arc aims to differentiate itself by offering security, efficiency, and low cost for global transactions.
Considerations for Traders and Investors
The adoption of USDC could accelerate if Arc manages to position itself as the main network for payments in stablecoins.
Institutional backing after the IPO reinforces Circle's credibility in the regulated market.
The tokenization of payments and the stablecoin-first infrastructure can redefine the role of USDC against competitors like Tether and PayPal USD.
Market sentiment
The crypto community perceives this move as a boost of confidence in the future of regulated stablecoins. While some question the concentration of power in centralized actors, others see Circle as the bridge between traditional finance and blockchain.
Conclusion
The acquisition of Malachite is not just a technological purchase: it is a strategic step towards the future of global payments. With Arc1, Circle aims to position itself as the key infrastructure in the digital economy based on stablecoins.
