Circle Taps Visa, Mastercard, BlackRock as Arc Validators for September Launch
What happened: Circle announced an 11-member validator cohort for the Arc blockchain’s September 16 mainnet launch, including Visa, Mastercard, BlackRock, DTCC, and others.
What happened: Circle announced an 11-member validator cohort for the Arc blockchain’s September 16 mainnet launch, including Visa, Mastercard, BlackRock, DTCC, and others. The Arc testnet and private mainnet have processed over 500 million transactions across about 3 million wallets. Circle also renewed its USDC distribution deal with Coinbase, and reported Q2 revenue and reserve income of $701 million (+7% YoY), with USDC circulation up 19% to $73.3 billion.
Why it matters: The inclusion of major financial institutions as validators marks a significant step toward institutionalizing blockchain infrastructure, though it raises questions about decentralization. Circle’s strong financials and growing USDC adoption reinforce its position as a central player in the stablecoin and tokenization ecosystem, even as critics debate the trade-offs of permissioned networks.
Source: Decrypt