Circle Arc Adds Visa, HSBC And 100 Banks, Apps

Stablecoin giant Circle says more than 100 banks, payment firms and apps are now building on Arc, its own blockchain, and over $30 billion in USDC has already moved across it since launch.

Key Takeaways

Circle said 100+ banks, payments leaders and apps are building on Arc, including BNY, HSBC, Mastercard and Visa
More than $30 billion in USDC has moved on Arc since its mainnet went live on September 16
Circle shared the figures during its third-quarter earnings livestream on Friday
Fees on Arc are paid in USDC, so users never need to hold a separate volatile token

What Circle Said

Circle posted the update on X on Friday, during its third-quarter earnings livestream. “Arc is live, with 100+ banks, payments leaders, and apps building on the network,” the company said, naming BNY, HSBC, Mastercard and Visa.

The company added that more than $30 billion in USDC has moved on Arc since its mainnet launch. It did not say how much of that came from banks versus apps, or which of the named partners are live in production.

Also Read: Tether's $8B Digital Dollar Cushion Grows As It Banks $1.5B

What Arc Actually Is

Arc is a layer-1 blockchain that Circle built for payments, financial markets and AI agents. Its public mainnet went live on September 16, according to Circle’s release.

Unlike most blockchains, Arc charges network fees in USDC, the dollar-pegged stablecoin Circle issues. Circle said payments settle in under a second.

The founding validators, the firms that help run and secure the network, include BlackRock, DTCC, Galaxy, ICE, Mastercard, MoneyGram, Standard Chartered and Visa.

Circle CEO Jeremy Allaire pitched Arc as the next step after the stablecoin itself. “USDC was step one. Arc is the network built for what comes next,” he said at launch.

The ARC Token Question

Circle also minted 10 billion ARC tokens at launch, which it says will power security, utility and governance on the network. The company said the mint is not a commitment to a public ARC launch, and network fees stay payable in USDC.

Arc runs on a permissioned set of approved validators today, and Circle has said it may move to proof of stake in 2027.

What To Watch Next

The partner list shows big-name interest. The real test is whether Circle breaks the $30 billion down by use, such as cross-border payments, treasury moves or card settlement, which would show whether banks are moving real money or still running pilots.