Circle plans to launch StableFX forex engine on Arc mainnet

Circle CEO Jeremy Allaire said the StableFX foreign exchange trading engine is set to launch on the Arc mainnet, Circle’s USDC-optimized layer-one blockchain. StableFX was tested on Arc’s public testnet and supports 24/7 real-time settlement for fiat-backed stablecoins tied to major and emerging-market currencies. It is also designed to reduce settlement risk through a payment-versus-payment, or PvP, mechanism under which both sides settle simultaneously or both are canceled.