Circle's Arc records 7.83M transactions
- Circle Internet Group launched Arc, which processed 7.83 million transactions in its first 24 hours.
- USDC transfers totalled about 624,000, while Arc's first-day decentralised exchange volume reached roughly $82 million.
- Memecoin trading drove much of the early activity despite Arc's focus on payments and institutional finance.
Circle Internet Group launched its Arc blockchain on September 16, processing 7.83 million transactions within 24 hours.
Arc launched with 11 founding validators, including BlackRock, Visa, Mastercard and DTCC, alongside more than 100 builders.
“Arc is the single most significant launch in Circle's history since USDC itself,” said Circle Co-Founder, Chairman and CEO Jeremy Allaire.
Despite its payments focus, Arc recorded about 624,000 USDC transfers across its network while memecoins drove much of the trading activity.
Arc's first-day decentralised exchange volume reached about $82 million, while Circle shares were up 5.23% at $84.66 following the launch.
The launch included DeFi platforms such as Aave and Morpho, while Arc processed blocks in about half a second without reported congestion.
Circle designed Arc for payments, foreign exchange, trading, lending and tokenised assets, with USDC used to pay network fees instead of a volatile native token.
