USDC stablecoin issuer Circle has launched Circle StableFX, an institutional-grade foreign exchange engine that enables 24/7 stablecoin currency pair trading with on-chain settlement on its Arc blockchain network. The company simultaneously announced Circle Partner Stablecoins, a program supporting select regional stablecoin deployments on Arc, creating a unified infrastructure stack for global FX activity, according to a press release shared with Decrypt. The dual offerings is built on Arc’s Layer-1 blo ...

Core Insights - Circle is launching a new stablecoin-powered foreign exchange engine called StableFX, which aims to modernize currency trading by enabling on-chain, round-the-clock transaction settlements with reduced counterparty risk [1][3] Group 1: Market Context - The foreign exchange market is one of the largest globally, with over $9 trillion traded daily, yet it relies on outdated systems that require pre-funded accounts and have delayed trade settlements [2] - Predictions indicate that stablecoins could process $1 trillion in annual payment volumes by 2030, with cross-border transfers and on-chain FX identified as significant areas for disruption [2] Group 2: Product Features - StableFX allows verified institutional users to trade stablecoin-denominated currency pairs with real-time settlement and Request-for-Quote (RFQ) pricing across multiple liquidity providers, thereby eliminating friction and reducing settlement risk [3] - Circle is also introducing a program called Circle Partner Stablecoins to support non-dollar stablecoins on Arc, with initial participants including regional stablecoin issuers such as Avenia (BRLA), Juno (MXNB), and Stablecorp (QCAD), which will expand the range of currency pairs available on StableFX [4]