Circle has launched StableFX on Arc, enabling eligible incorporated businesses to request competing foreign-exchange quotes from multiple liquidity providers and settle both sides of stablecoin trades simultaneously. The service targets a global FX market that moves nearly $10 trillion daily and allows institutions to trade beyond conventional banking hours through immediate or programmable settlement windows. StableFX separates off-chain quote execution from on-chain settlement: counterparties fund a smart contract on Arc, and payment-versus-payment logic transfers both currency legs together or neither does. The service supports Circle’s USDC and EURC alongside stablecoins representing the Australian dollar, Brazilian real, Japanese yen, Canadian dollar and South African rand, although Circle has not published a complete list of live pairs. Circle Technology Services provides the APIs and smart contracts but does not custody exchanged assets or transmit funds for users, leaving participating firms responsible for licensing and compliance. Access is aimed at approved institutions, payment companies, financial firms and corporate treasury desks rather than retail traders.