Quick take:
- The company says its blockchain is designed to meet the needs of developers and companies, bringing more economic activity on-chain.
- The testnet allows developers and enterprises to deploy, test, and build on “the new Economic Operating System for the internet.”
- Among Arc’s applicable use cases are lending, capital markets, forex, and global payments, the company said in a press release on Tuesday.
Circle Internet Group, Inc. (NYSE: CRCL) has launched the public testnet of its open layer-1 blockchain network Arc. The USDC stablecoin issuer says Arc is designed to meet the needs of developers and companies, bringing more economic activity on-chain.
According to the press release seen by NFTgators on Tuesday, Arc’s testnet debuts with more than one hundred companies across the financial and economic system, with deep infrastructure support and global participation.
The testnet allows developers and enterprises to deploy, test, and build on “the new Economic Operating System for the internet,” Circle said, adding that Arc can be leveraged for a variety of use cases, including capital markets, forex, and global payments.
“Arc represents a major step forward in building open, programmable financial infrastructure for the global economy,” the company said, adding that its blockchain features predictable dollar-based fees, sub-second transaction finality, opt-in configurable privacy, and direct integration with Circle’s full-stack platform.
Commenting on the announcement, Jeremy Allaire, co-founder, chairman, and CEO of Circle, said in a statement: “With Arc’s public testnet, we’re seeing remarkable early momentum as leading companies, protocols, and projects begin to build and test. Combined, these companies reach billions of users, move, exchange, and custody hundreds of trillions in assets and payments, and support local economies across Africa, the Americas, Asia, Europe, and the Middle East.”
Stay on top of things:
Subscribe to our newsletter using this link – we won’t spam!
