Circle Lines Up Major Financial Institutions For Its New Arc Blockchain. Here's Why Circle Stock is Now a Buy.
The new blockchain expands its ecosystem and widens its moat.
Overview
Circle (NYSE: CRCL), the fintech company that mints the USD Coin (CRYPTO: USDC) stablecoin, recently unveiled Arc, a new blockchain for stablecoin-based transactions, cross-border settlements, and tokenized real-world assets. Instead of adapting general-purpose blockchains for those transfers, Circle built Arc from the ground up to handle those tasks.
Arc won't launch until September, but it's already attracted major backers such as BlackRock, Visa, Mastercard, Standard Chartered, MoneyGram, and Interncontinental Exchange, the parent company of the New York Stock Exchange. Let's see why those financial giants are lining up to use this new blockchain -- and why that support makes Circle's stock a more attractive investment.
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Originally published at www.fool.com.