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Circle launched Arc, a Layer-1 blockchain designed specifically for stablecoins like USDC. It aims to address common issues with existing blockchains, such as unpredictable fees and lack of privacy, making digital dollar transactions more efficient and compliant.
Circle is set to launch Arc, an EVM-compatible Layer 1 blockchain that will use its USDC stablecoin as the native gas token. The announcement follows a strong Q2 performance, with revenue up 53% to $658 million, despite a net loss attributed to IPO-related charges.