Circle announced the launch of two new products designed to accelerate the global FX market’s transition to a digital, programmable infrastructure.
Circle introduced StableFX, a mechanism for foreign exchange operations, and the Partner Stablecoins program, supporting regional stablecoins. Both solutions are built on Arc, a blockchain designed for real-time settlement.
StableFX is a stablecoin-based currency exchange platform aimed at institutional market participants. It enables 24/7 execution and settlement of FX trades in supported stablecoin pairs, offering:
- competitive pricing with low slippage via RFQ execution across multiple liquidity providers;
- on-chain settlement where payment and delivery occur simultaneously or not at all, reducing risk;
- capital-efficient operations, including programmable settlement windows and netting models;
- an all-to-all model that removes the need for bilateral agreements with each counterparty.
Access to StableFX is granted only to institutions that passed full KYB and AML checks. The service is currently operating on the Arc testnet.
In parallel, Circle is launching the Partner Stablecoins program, bringing together non-USD stablecoin issuers that will operate on Arc and integrate into global payment and FX flows.
Participants in the program must meet requirements related to reserve and risk management systems, as well as technological and operational readiness.
Joining the program provides:
- access to payment, FX, and remittance flows through the Circle Payments Network and StableFX;
- interaction with Circle’s global liquidity provider network and compatibility with USDC;
- expanded presence in the digital asset market.
Among the first participants are Avenia (BRLA), Beyond Digital Asset Custody Services (KRW1), Coins.ph (PHPC), Forte (AUDF), Juno (MXNB), JYPC (JYPC), Stablecorp (QCAD), and ZAR Universal Network (ZARU). These are regional issuers that already confirmed their participation.
According to Circle’s Chief Product and Technology Officer Nikhil Chandhok, the company aims to build the foundation for a real-time global economy using Arc as its infrastructure.
Arc, an L1 blockchain focused on payments and financial applications, was announced by Circle in August 2025. The project is currently in testnet, with the mainnet launch scheduled for 2026.
