Core Insights - The article discusses the launch of ARC, a blockchain network infrastructure aimed at facilitating financial and economic activities on the internet, announced by Circle, the largest stablecoin issuer [2][4][7] - Major financial and technology firms are collaborating with Circle to migrate existing financial systems to a more internet-native model, utilizing smart contracts and blockchain technology [4][6][10] Company Developments - Circle has introduced ARC as an economic operating system for the internet, designed to support various financial activities such as payments, lending, and capital market functions [2][4][7] - The company anticipates significant revenue potential from ARC, not only for itself but also for the broader ecosystem that builds on this infrastructure, with opportunities in transactional revenues [8][9] Market Trends - There is a growing global demand for USDC, particularly in emerging markets, with significant interest noted in the Middle East for its ability to facilitate efficient and cost-effective transactions [10][12][13] - The market cap of USDC is reported to be around $76 billion, with nearly 100% annual growth observed since the passage of the genus act, indicating a dynamic and expanding market [14][15]
Circle CEO: We're building an economic operating system for the internet