Circle has launched StableFX, an onchain foreign exchange platform, on the Arc Layer 1 blockchain. The system allows institutional users to trade over 20 fully reserved stablecoins 24/7 using atomic payment-versus-payment settlement, which ensures simultaneous execution of both sides of a trade.
The platform aims to address the global FX market, which handles approximately $10 trillion in daily volume. Unlike traditional infrastructure that requires one to two days for settlement and closes on weekends, StableFX operates continuously and eliminates settlement risk by removing the time gap between currency exchanges.
Arc mainnet went live on September 16, 2026, with over 100 institutional participants, including BlackRock and Visa. The network uses USDC for transaction fees and provides deterministic sub-second finality. At genesis, Circle minted 10 billion ARC tokens, though no public launch plans have been confirmed.
StableFX integrates offchain request-for-quote pricing with onchain settlement. The platform leverages the Partner Stablecoins program, which began in November 2025, to provide regional stablecoins for institutional needs. Early adopters include payment providers and fintech firms seeking to reduce cross-border transaction costs.
