Circle Unveils Arc Mainnet with Major Validators Including BlackRock and Visa

Circle Launches Arc Mainnet

Circle has officially launched its Arc mainnet, a Layer 1 blockchain tailored for payments and trading, with over 100 institutional partners on board. Key founding validators include major players like BlackRock, Visa, Mastercard, and Standard Chartered, marking a significant milestone in the company's history.

CEO Jeremy Allaire referred to the launch as "the most significant event since the inception of USDC," which currently has a market circulation of approximately $74 billion and will function as the gas token for the new blockchain.

The genesis mint of 10 billion ARC tokens was completed this week, although Circle clarified that this does not indicate an imminent public launch. Instead, it is viewed as a step towards a potential transition to a proof of stake model by 2027. Circle had previously raised $222 million in a presale for the Arc token, achieving a valuation of $3 billion.

Validator Network and Features

The Arc network boasts a permissioned validator model, enabling banks to leverage a public chain for treasury management and secure payments. Access is granted to several banks, including BNY, HSBC, and State Street, with trading facilitated by platforms such as Uniswap and Binance. Notably, USDC accounts for 98.8% of transaction volume driven by agents, according to Dune data.

Arc also includes advanced features like agent wallets and optional post-quantum signatures, with ongoing development for additional security measures. Circle's testnet, which began last year with contributions from partners like BlackRock and Visa, successfully processed over 700 million transactions within that timeframe.