Circle is building its own blockchain via Arc and testing stablecoin rails on Base, while facing market pressures regarding high distribution partner costs.
1 report, 1 independent
Updated Aug 20
AI-generated analysis. Brind wrote this summary from the reports listed below. It can be wrong. Each section says how much you can rely on it, and the sources are linked so you can check.
What happened
Circle is building its own blockchain via Arc and testing stablecoin rails on Base, while facing market pressures regarding high distribution partner costs.
Who's involved
What this event is mainly aboutHow it developed
Newest first. Tap a step to see who reported it.- Circle's Arc network achieved major milestones with BlackRock and Visa joining as founding validators, and Binance integrating routes.Sub-event
- Circle introduced Arc as an open Layer-1 blockchain.Sub-event
Circle launched Arc to build its own blockchain and is testing stablecoin rails on Base with JPMorgan.1 source
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The entities involved
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Circle
peer-to-peer payments technology company
- Coinbase operates as a leading regulated crypto exchange, utilizing its Base Layer-2 network built on Ethereum, and shares revenue with Circle in the USDC ecosystem.
- Hana Bank is participating in a settlement network trial involving the Bank of Korea, while Binance announces a $100M investment to promote Circle's USDC.
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Arc
Italian record label; imprint of RCA Italiana S.p.A.
Nothing else this week.
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BASE
Japanese business
Nothing else this week.
Related events
- Industry leaders like Circle, Stripe, Robinhood, and Coinbase are exploring proprietary blockchain solutions to meet the demands of decentralized payments.
- Coinbase is lobbying for favorable Clarity Act legislation, Circle is building financial infrastructure on the Arc network, and MicroStrategy Inc. remains the largest Bitcoin treasury holder.
- Coinbase distributes USDC, a stablecoin from Circle, and shares in its economics.
- Coinbase is listed on Nasdaq, while Circle's USDC funds a quarter of Coinbase's revenue. The Senate failed to pass the CLARITY Act, amidst FED rate impacts.
- Bureau Veritas audited tokenized gold reserves related to the Arc blockchain built by Circle.
Coverage
Newest first; wire copies grouped- GuruFocus.comCircle Builds a New Payments Network--And It Could Reroute the Flow of Digital Money Fresh off a blockbuster IPO that's sent shares soaring over 350%, the stablecoin powerhouse has launched its own b