Circle opens its Arc blockchain with Wall Street giants running the network

Circle (CRCL), the company behind the USDC stablecoin, opened its own blockchain called Arc to the public on September 16. The unusual part is who runs it: BlackRock, Visa, Mastercard, DTCC and seven other finance giants act as founding validators, not crypto firms. On Arc, fees are paid in dollars, and BlackRock plans to move its tokenized cash fund onto the network.