Circle, a US company and issuer of USDC stablecoin, plans to launch its own blockchain compatible with EVM. Arc, the new network, aims to offer enterprise-grade solutions for stablecoin payments and capital markets. Q2 results show a 53% year-over-year increase in revenue, totaling $658 million.

Arc blockchain will feature USDC as native gas token, providing stablecoin foreign exchange engine and privacy controls. USDC has a $65.6 billion market cap, running on 24 networks. Ethereum is the largest network for USDC, with $42.6 billion in total supply. Further updates on Arc blockchain to come.

Read more at Cointelegraph: USDC Issuer Circle Introduces New Layer-1 Blockchain Arc