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Circle Partners with BlackRock, Visa, and Goldman Sachs on Arc-Powered FX Network
USDC issuer Circle has unveiled Circle StableFX, a cutting-edge foreign exchange (FX) engine designed for institutional players, enabling 24/7 stablecoin-to-stablecoin trading with on-chain settlement through its Arc blockchain network. The move marks a major leap toward modernizing global currency markets with blockchain efficiency.
Circle Unveils Partner Stablecoin Program
Alongside StableFX, Circle also introduced the Circle Partner Stablecoins program — a framework supporting regional stablecoins deployed on Arc. This initiative creates a unified infrastructure for global FX activity, connecting fiat-pegged assets from multiple regions in one interoperable network.
Built on Arc’s Layer-1 blockchain, whose public testnet launched last month with over 100 institutional participants — including BlackRock, Visa, Goldman Sachs, Deutsche Bank, Standard Chartered, Mastercard, and Coinbase — the dual launch targets long-standing inefficiencies in traditional FX systems, which still rely on fragmented venues and T+1 settlement cycles.
Real-Time Cross-Border Trading
By combining Arc’s programmable settlement architecture with stablecoin-backed liquidity, StableFX aims to deliver instant, low-risk cross-border currency exchange, significantly reducing counterparty risk and capital requirements.
“With StableFX and Circle Partner Stablecoins, we’re connecting the world’s currencies on Arc,” said Nikhil Chandhok, Circle’s Chief Product and Technology Officer.
Institutional-Grade Infrastructure
StableFX operates on a request-for-quote (RFQ) model, linking institutions with multiple liquidity providers for competitive pricing and minimal slippage. Settlement occurs entirely on-chain, ensuring that both payment and delivery are executed simultaneously.
The platform is currently live on Arc’s testnet and accessible to approved institutions completing KYC and AML verification ahead of the planned 2026 mainnet launch.
Expanding Global Reach Through Regional Stablecoins
Initial partners for the Circle Partner Stablecoins program include Avenia (Brazilian real), Forte (Australian dollar), JYPC (Japanese yen), Juno (Mexican peso), Busan Digital Asset Custody Services (South Korean won), Stablecorp (Canadian dollar), Luno (South African rand), and Coins.ph (Philippine peso).
These regional stablecoins will integrate into Circle’s Payments Network and StableFX, expanding their utility beyond domestic markets and strengthening Circle’s role in the global digital finance ecosystem.
At the time of launch, Circle reported $740 million in Q3 revenue, a 66% year-over-year increase, and USDC’s market cap rose from $61 billion to $76 billion, solidifying its place as one of the leading stablecoin issuers worldwide.
