Mentioned:
Circle has major ambitions for their own blockchain. Which is exactly why they’ve just partnered with some of the largest companies in payments and crypto.
What’s happening:
- Circle (NYSE: CRCL) has publicly stated that they have partnered with eleven different institutions and digital asset companies as founding validators of their Layer 1 blockchain Arc
Why it matters:
- BlackRock, Galaxy Digital (NASDAQ: GLXY), Mastercard (NYSE: MA), Visa (NYSE: V) and multiple other companies have partnered with Circle to run the founding validator nodes on Arc
Going deeper:
- Circle’s Arc blockchain is aiming to put tokenized securities and stablecoin payments on their own network as well as institutional foreign exchange
- The United States Office of the Comptroller of the Currency just recently notably gave Circle approval to establish a national trust bank known as Circle National Trust which will allow Circle to hold their stablecoin USDC’s cash and digital asset reserves within their own regulated bank
The intrigue:
- Mastercard has been making a flurry of deals focused on stablecoins lately, including closing their $1.5B USD acquisition of stablecoin company BVNK
