Circle, the renowned issuer of the world's second-largest stablecoin by market capitalization, USDC, has finally released the launch date for its much-anticipated Arc blockchain.
The company made the big announcement after disclosing the names of major institutions and industry leaders that had joined in on the move to serve as the founding validators ahead of the major event.
Circle gains major support
In an official announcement released by the USDC issuer on Wednesday, August 5, Circle announced that BlackRock, SBI Group, Visa, Mastercard, Standard Chartered, MoneyGram, Intercontinental Exchange (ICE), Galaxy, Global Payments, Sumitomo Corporation, and The Depository Trust & Clearing Corporation (DTCC) will serve as founding validators for Arc.
The company confirmed support from the aforementioned companies as the mainnet launch for its Arc network draws closer. Circle confirmed that it has scheduled the launch to happen on September 16.
While Arc currently operates on a private mainnet with more than 100 institutional partners and ecosystem builders testing its infrastructure, its upcoming mainnet launch is set to mark a major milestone for the stablecoin issuer.
BlackRock to deploy BUIDL on Arc
As anticipation for the launch continues to intensify, Circle further revealed that BlackRock and other major firms are already testing diverse use cases including tokenized asset settlement and digital asset custody to stablecoin-based payments ahead of Arc's mainnet launch.
Following BlackRock's collaboration on the project, BlackRock has disclosed plans for a major development on Arc, as it plans to deploy its USD Institutional Digital Liquidity Fund (BUIDL) on the network.
U.Today Editorial Team
Dan Burgin
