StableFX is preparing to launch on Arc’s mainnet after testing on the public testnet, Circle CEO Jeremy Allaire said. Arc is Circle’s USDC-optimized layer-one blockchain. The institutional stablecoin foreign-exchange engine supports 24/7 real-time settlement for fiat-backed stablecoins tied to major and emerging-market currencies. Its payment-versus-payment mechanism settles both sides simultaneously or cancels both transactions, helping reduce settlement risk and capital tied up during settlement. Participants can also connect with multiple vetted counterparties through a single onboarding process.