Circle launches Arc public testnet
Circle opened the Arc public testnet on Oct. 28 in New York. The L1 blockchain targets onchain finance, offering dollar-based fees, sub-second finality, and support from over 100 companies.
Arc is available for developers and enterprises to deploy and test applications. Circle describes Arc as an "Economic Operating System" for the internet and plans to support stablecoins for network fees, as well as native tools for stablecoin swaps and onchain FX.
Over 100 firms are engaging with the testnet. Key participants include banks and asset managers such as BlackRock and Goldman Sachs, tech and payments companies like AWS and Mastercard, and digital asset platforms including Coinbase and Uniswap. Developer tools and infrastructure are supported by providers such as MetaMask, Ledger, and Chainlink.
With Arc’s public testnet, we’re seeing early momentum as companies build and test. Arc presents the opportunity for every type of company to build on enterprise-grade network infrastructure– according to Jeremy Allaire, Circle’s co-founder and CEO.
Robert Mitchnick, global head of digital assets at BlackRock, highlighted the potential for stablecoin‑denominated settlement and onchain FX to improve capital markets. Raj Dhamodharan, EVP at Mastercard, discussed collaboration with Circle to support secure payment experiences across fiat and stablecoin rails. Cuy Sheffield, Visa’s crypto lead, characterized Arc’s design as a strong environment to test connections between established payments networks and onchain infrastructure.
Circle outlined a path to distributed governance for Arc, including plans to expand validator participation and establish transparent governance frameworks. The company’s stated goal is for Arc to operate as a shared, neutral layer of economic infrastructure run by a broad, globally distributed set of participants.
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