Circle Internet Group CEO Jeremy Allaire described Arc as an “economic OS for the internet” at the Future Investment Initiative. Arc is built for payments, FX, lending, and capital markets with dollar fees, sub-second settlement, and privacy controls. The public testnet went live Oct. 28, with mainnet targeted for 2026 after smart contract trials.

Allaire emphasized USDC as a bridge for use cases, noting growth and significant demand from emerging markets. In the Middle East, businesses use digital dollars for quick value transfer. Circle’s UAE plans align with this focus, with regulatory steps allowing on-chain dollar rails and integration of stablecoin payments, FX, and credit workflows.

The Arc announcement involved over 100 companies in banking, payments, tech, and AI. The business model is transactional and ecosystem-driven, aiming for broad operations and governance. Arc provides a stablecoin-native finance environment, while USDC serves as settlement and fee unit. Allaire highlighted predictable costs, fast finality, and compliance-friendly privacy for enterprises.

Read more at Yahoo Finance: Circle CEO Jeremy Allaire Calls Arc ‘an Economic OS for the internet’