Circle, the issuer of USDC, has opened the public testnet for Arc, a blockchain network designed to support payments and tokenized financial activity. The platform is built as an open Layer 1 network and aims to help companies move real-world finance onto blockchain infrastructure.
Arc is described by Circle as an “Economic OS” intended to serve developers, enterprises, and financial institutions. According to the company, the testnet already includes over 100 participants from across traditional finance, crypto, and tech.
Participation from Global Financial Firms
Institutions currently testing Arc include Visa, HSBC, BlackRock, and AI company Anthropic. Others involved span capital markets, banking, and payment processing. Circle said the testnet has drawn interest from organizations based in North America, Europe, Asia, Africa, and the Middle East.
Participants include BNY Mellon, Apollo, State Street, and the New York Stock Exchange. Banks such as Goldman Sachs, Standard Chartered, Deutsche Bank, and Invesco are also involved. Together, these firms manage trillions in assets and operate across major markets.
Circle noted that Arc is being positioned to support the movement of stablecoins, tokenized equities, credit products, and money market funds. The platform will also use stablecoins as gas tokens and support tools for FX and cross-border settlement.
Several stablecoin issuers have joined the Arc testnet. These include Forte Securities (AUDF in Australia), Avenia (BRLA in Brazil), JPYC Inc. (JPYC in Japan), BDACS (KRW1 in South Korea), Juno (MXNB in Mexico), Coins.PH (PHPC in the Philippines), and Stablecorp (QCAD in Canada).
Circle said discussions are ongoing with more stablecoin providers issuing tokens backed by dollars, euros, and other local currencies. The goal is to build stablecoin infrastructure that reflects regional needs while connecting with the global economy.
Developers, Protocols, and Market Platforms Testing Arc
Blockchain developers and infrastructure providers are also taking part in the testnet. Companies such as Alchemy, Chainlink, LayerZero, and thirdweb are supporting developer access. Cross-chain tools from Wormhole, Stargate, and Across are being tested for interoperability.
Wallet and custody partners include MetaMask, Fireblocks, Ledger, QuickNode, and Blockdaemon. These firms are working to ensure Arc is accessible across both institutional and individual use cases.
On the DeFi side, protocols like Aave, Curve, Uniswap Labs, and Euler Finance are adding liquidity and lending support. Centralized platforms including Coinbase, Kraken, and Robinhood are evaluating integrations. Market makers such as Galaxy Digital, GSR, Wintermute, and Cumberland are contributing to the liquidity layer.
Payments, FX, and Long-Term Goals
Circle is also working with payments firms and service providers to extend Arc’s use beyond digital assets. Mastercard, Visa, Brex, WorldPay, Nuvei, and AWS are participating in the testnet phase. These partners are exploring how Arc can support payment rails, settlements, and foreign exchange.
The company said Arc is intended to operate across regions and asset types, helping connect financial systems through programmable infrastructure. Stablecoin swaps, cross-border transfers, and real-time FX tools are among the use cases being tested.
Moreover, Circle is managing Arc’s early phase but plans to shift toward a more open governance model. Over time, the network will be run by a mix of financial institutions, technology companies, and developers. The roadmap includes validator onboarding and community governance design.
In the announcement, Circle said the goal is for Arc to function as a neutral infrastructure layer that supports digital financial activity on a global scale. The testnet follows the company’s public listing in June 2025, where it raised $1.1 billion at a $6.9 billion valuation.
