Circle's Arc Goes Live With KuCoin, Binance and Kraken as Stablecoin Rails Go Mainstream

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KuCoin joins 13 exchanges live on Arc, Circle's USDC-gas Layer 1 with BlackRock, Visa and DTCC as validators. Early data shows what the integrations carry.
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KuCoin switched on direct USDC transfers to and from Arc, Circle's new Layer 1, on the day the network went live on 16 September, one of thirteen exchanges including Binance, Kraken, OKX, Bybit, Gate and Upbit that did the same. Arc uses USDC as its gas token, settles in under a second and is run by eleven founding validators that include BlackRock, Visa, Mastercard, DTCC, Standard Chartered and ICE. Its testnet processed more than 700 million transactions across nearly three million wallets. More than 100 applications went live at launch, with MetaMask, Phantom, Ledger, Fireblocks, Aave and Uniswap among them. The open question is what the integrations carry: in the first 48 hours, $647 million of USDC arrived, $339 million of it went into two lending markets and most of the trading volume came from 97,000 new memecoins.