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Circle’s Arc Testnet Gains Support from Goldman Sachs and Visa

Circle’s Arc public testnet now counts over 100 global financial and fintech giants, including BlackRock, Goldman Sachs, Visa, and Mastercard, signaling broad industry participation in unified digital payment standards.

Summary

Circle reported strong early adoption of its Arc public testnet, with more than 100 major global financial and fintech companies participating, including BlackRock, Goldman Sachs, Visa, and Mastercard. The initiative aims to establish unified technology standards for money movement, fostering interoperability across institutions.

Terms & Concepts
  • USDC: A U.S. dollar-pegged stablecoin issued by Circle, designed to maintain a 1:1 value with the USD.
  • Testnet: A blockchain network used for testing and experimentation without risking real assets.
  • Money Movement Standards: Agreed-upon technical and operational protocols for transferring funds between institutions, aimed at interoperability and efficiency.