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.
Ant International, backed by Jack Ma, plans to integrate Circle's USDC stablecoin into its AntChain blockchain after meeting U.S. regulatory requirements. This partnership aims to enhance Ant's cross-border treasury and settlement services, potentially expanding USDC's reach to millions of users in various currencies.