Circle, a publicly recorded American company and the USDC Stablecoin issued, said that he would launch the blockchain layer 1 (L1) compatible with the Ethereum virtual machine (EVM) this year.

Business released His results in the second quarter on Tuesday and announced the introduction of the ARC, a recent network designed to offer the “Corporate Class Foundation” for Stablecoin payments, currency exchange and applications of capital markets.

It is expected that in Public Testnet, Circle’s Arc will have USDC (USDC) as a native gas token, enabling users to pay transaction fees using Stablecoin.

In addition to the premiere of Arc Circle, he revealed 53% year on year an raise in total revenues and reserve income in the second quarter, reaching USD 658 million.

“Full platform used for an online financial system”

According to Circle, his upcoming blockchain ARC is “specially built for Stablecoin Finance”, marking the main milestone in the company’s mission of providing “a full platform for an online financial system”.

The announcement stated that in addition to USDC as a native ARC gas, Stablecoin, the final of the sub -settlement and privacy control will provide the ARC’s native gas.

“Arc will be fully integrated with the Circle platform and services, which will also remain fully available and interoperable with dozens of other partner blocks that the wheel serves.”

At the time of writing, USDC had a market capitalization of $ 65.6 billion, and Stablecoin operated a total of 24 networks.

Ethereum is currently the largest network for USDC, with the total supply of USDC on the network is USD 42.6 billion, According to for lap of data.

This is a developing story, and further information will be added as far as possible.

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