Circle has announced the launch of its new Arc blockchain with support from Fireblocks, ensuring access to custody and compliance tools.
Support from Fireblocks
Fireblocks, based in New York, provides custody and tokenization services for over 2,400 institutions. It is preparing integrations so that clients can transact on Arc from day one. Fireblocks currently supports over 120 blockchains and provides settlement infrastructure across global markets.
Launch of Arc Blockchain
Arc, a layer-1 blockchain, is scheduled for a public testnet this fall, with a full launch planned by the end of 2025. This has attracted attention on social media, as many respondents noted that other blockchains, such as Solana, secured Fireblocks support only after reaching a certain scale.
Stablecoin Market
This move comes amid a surge of new blockchain launches. The global stablecoin market has grown to $277 billion, with Circle's USDC accounting for about a quarter of the share, while Tether (USDT) continues to dominate with approximately 60% market share.
The launch of Arc reflects strategic changes in the digital asset landscape as Circle actively enhances its position in the stablecoin market, building infrastructure for the financial sector.
