The fact that the biggest companies in their field come together and take advantage of the opportunities in cryptocurrencies is fueled by their belief in the potential to make profits from it. Finance has reached a completely different dimension with the internet and of cryptocurrencies With the new infrastructure it has brought, finance is now rushing towards its next revolution. That’s exactly why BlackRock, Visa, HSBC, AWS and others are taking action.
Arc Cryptocurrency Network
Circle, BlackRockA number of participants, including Visa, HSBC, AWS and Anthropic, announced the testnet launch of Arc, a cryptocurrency network focused on payment infrastructure. This reminds us of Plasma, which Tether is behind, and in general they do the same thing. of USDC We can see Arc as Plasma of Circle, the company behind it.
Arc brings the real-world financial experience to blockchain with USD-based fees, sub-second transaction completions, and optional privacy controls. Currently, there are almost no finance and technology giants who are not involved in cryptocurrency-related business. More than 100 institutions joined hands for Arc. This is an extremely big thing for the future of cryptocurrencies.
Cryptocurrencies and Financial Giants
BlackRock, Goldman Sachs, Visa and more than 100 institutions, including Mastercard, are coming together for the same purpose. Circle CEO Jeremy Allaire emphasized that hundreds of trillions of dollars of assets and payment potential are appetizing.
“With Arc’s public testnet, we are seeing tremendous early momentum as leading companies begin to build and test protocols and projects. Collectively, these companies reach billions of users, move, exchange and store hundreds of trillions of dollars of assets and payments, and support local economies in Africa, the Americas, Asia, Europe and the Middle East. This geographic diversity reveals a defining strength of Arc: every local It is specifically designed to connect the market to the global economy.
“Arc offers companies of all types the opportunity to build on enterprise-grade network infrastructure, advancing the shared vision that a more open, inclusive and efficient global economic system can be built natively on the internet.”
These 100 partners consist of leading companies in their fields. For example, capital markets companies include Intercontinental Exchange Inc, State Street and Apollo. Or banks include Emirates, BlackRock, WisdomTree, Societe Generale, Deutche Bank, Goldman Sachs, Invesco and others. Payment companies include Visa, MasterCardAWS includes nearly 20 more giants.
BlackRock Global Head of Digital Assets Robert Mitchnick said the following about the attestation process:
“Exploring Arc will provide insight into how stablecoin exchange and onchain FX capabilities can enable more efficient capital markets and provide additional benefits for onchain assets.”
