Speaking at the 2025 Future Investment Initiative in Riyadh, Circle Internet Group (CRCL) CEO Jeremy Allaire introduced Arc, describing it as “an economic OS for the internet.” He emphasized that as financial systems migrate on-chain, enterprises need reliable performance, predictable costs, and strong privacy. Built for payments, foreign exchange, lending, and capital markets, Arc offers dollar-denominated fees, sub-second settlements, and enterprise-level privacy controls. The blockchain’s public testnet launched on October 28, with a mainnet debut expected in 2026 after developers test smart contracts, transaction flows, and token launches.
Allaire highlighted USDC, Circle’s dollar-backed stablecoin, as the backbone of Arc’s ecosystem. He rejected claims of stagnation, asserting that USDC usage has surged throughout 2025, particularly in emerging markets. Businesses in regions like the Middle East are leveraging digital dollars to bypass legacy cross-border payment systems, moving value faster and more efficiently. Circle’s growing presence in the UAE supports this trend, aligning with regulatory progress that allows the firm to serve institutional clients seeking compliant, on-chain dollar settlement solutions.
Allaire also connected Circle’s momentum to recent U.S. legislation providing clarity for payment stablecoins, which he said has encouraged adoption by major corporations integrating stablecoin payments and credit workflows. The Arc initiative already includes over 100 participating companies from banking, payments, tech, and AI sectors.
Positioned as a high-throughput, dollar-priced blockchain network, Arc aims to modernize financial infrastructure with predictable fees and privacy features tailored for enterprise use. Allaire described the project as ecosystem-driven and transaction-focused, envisioning a decentralized governance model over time. By combining USDC’s stability with Arc’s performance, Circle aims to make programmable, on-chain finance the backbone of global commerce.
