PANews reported on August 12th that Circle announced the launch of Arc, an open Layer-1 blockchain designed specifically for stablecoin finance. Arc uses USDC as its native gas, supports low and predictable USD-denominated fees, and features a built-in institutional-grade foreign exchange engine, enabling 24/7 automated settlement between stablecoins. Arc utilizes the high-performance Malachite consensus mechanism, supporting sub-second finality and optional privacy. The EVM-compatible chain targets applications such as cross-border payments, stablecoin derivatives, on-chain credit, and capital market settlement. It is expected to launch in public beta this fall, with a mainnet launch in 2026.