Circle’s Arc Blockchain Gains Major Backers, KRW Stablecoin Launch

Circle’s new blockchain platform Arc is rapidly gaining institutional traction, with over 100 global financial giants including BlackRock, Goldman Sachs, Visa and Mastercard participating in its public testnet. In a significant development for international stablecoin adoption, South Korean crypto custodian BDACS has signed a memorandum of understanding with Circle to launch KRW1, a won-backed stablecoin, on the Arc network. This partnership establishes what BDACS calls an “organic cooperative framework” and creates a crucial gateway for Korean financial innovation to reach global markets.

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Circle Launches Arc Blockchain Testnet with 100+ Firms

Circle has launched the public testnet for Arc, its new Layer-1 blockchain network, with participation from over 100 major financial institutions and tech companies including BlackRock, Visa, and Goldman Sachs. The blockchain aims to serve as an ‘Economic Operating System’ for global finance, featuring dollar-based fees, sub-second transaction finality, and optional privacy configurations tailored for financial applications. This unprecedented institutional backing signals a significant step toward mainstream blockchain adoption in traditional finance.

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Circle Launches Arc Blockchain Testnet with 100+ Partners

Circle has launched the public testnet for its Arc blockchain network, attracting over 100 major institutions including Visa, BlackRock, and Mastercard. The payments-focused blockchain aims to become an ‘Economic OS’ for global financial activity, marking a significant step toward bringing real-world finance on-chain with participation from financial giants managing trillions in assets.

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Circle Launches Arc Blockchain Testnet with Major Institutions

Circle, the world’s second-largest stablecoin issuer, has launched the public testnet for its Arc blockchain with participation from over 100 major financial institutions including BlackRock, Goldman Sachs, Visa, and Mastercard. This landmark initiative, described by Circle CEO Jeremy Allaire as the ‘Economic Operating System for the internet,’ represents a significant step toward mainstream institutional adoption of blockchain technology and could fundamentally reshape how global financial infrastructure operates.

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ClearBank & Circle Partner to Scale USDC and EURC in Europe

In a significant move for European digital finance, UK-based cloud clearing bank ClearBank has formed a strategic partnership with Circle, the issuer of the world’s second-largest stablecoin USDC, to scale stablecoin operations across European markets. The collaboration focuses on expanding institutional access to both USDC and EURC stablecoins through Circle Mint, representing a major step toward mainstream adoption of regulated digital currencies in traditional European banking infrastructure.

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Ant Group Files ANTCOIN Trademark in Hong Kong

Ant Group, China’s largest internet finance company, has filed to register the ANTCOIN trademark in Hong Kong, covering digital wallets, online payments, and stablecoin services. This strategic move signals the fintech giant’s positioning in Hong Kong’s growing virtual asset sector despite recent regulatory challenges from Beijing that have temporarily stalled its stablecoin ambitions.

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India Leads Global Crypto Adoption, US Sees 50% Volume Surge

India has secured its position as the global leader in cryptocurrency adoption for the third consecutive year, while the United States recorded explosive 50% transaction volume growth, according to TRM Labs’ 2025 Crypto Adoption Index. Both nations are driving worldwide crypto expansion through increasing retail participation, institutional engagement, and evolving regulatory frameworks, with stablecoins playing an increasingly crucial role by accounting for 30% of global crypto transaction volume between January and July 2025.

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CZ Eyes Genesis Loan Book Purchase Amid Crypto Crisis

Binance CEO Changpeng Zhao is reportedly exploring the acquisition of Genesis Trading’s $2.8 billion loan portfolio as the cryptocurrency lending sector faces severe liquidity pressures following FTX’s collapse. The potential move, which comes as Genesis suspended customer withdrawals and seeks emergency liquidity solutions, could significantly consolidate Binance’s dominance while reshaping the competitive landscape of digital asset lending and trading.

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Binance Halts Solana USDT/USDC Deposits, SOL Price Drops

Major cryptocurrency exchanges Binance and OKX have suspended deposits of Solana-based stablecoins USDT and USDC, triggering a sharp 3% decline in SOL’s value to $13.70 and testing post-FTX lows. The moves come amid ongoing market turmoil following FTX’s collapse, raising serious questions about the Solana ecosystem’s stability despite Circle’s confirmation that its USDC remains fully functional on the network.

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Crypto.com Seeks National Bank Charter Amid Regulatory Shift

Crypto.com has officially applied for a national trust bank charter with the Office of the Currency Comptroller, positioning itself alongside established players like Coinbase and Circle in seeking federal banking privileges. This strategic move comes amid growing regulatory acceptance of cryptocurrency integration within traditional finance, including recent OCC approvals for banks to custody digital assets and Federal Reserve discussions about expedited banking access. The application represents a significant milestone in Crypto.com’s journey toward becoming a fully regulated financial institution and signals the accelerating institutionalization of crypto services.

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