BlackRock and Visa Join Circle’s New Blockchain Network Amid Fears of a Meme Coin Rush
Circle is launching its new blockchain network, Arc, with backing from major financial institutions including BlackRock and Visa. The Layer 1 chain aims to facilitate payments, foreign exchange, and tokenized securities using USDC as gas currency rather than volatile native tokens. Despite this institutional focus, traders are already speculating that the platform could become a hub for meme coin activity similar to Robinhood Chain’s launch in July. Robinhood Chain saw explosive trading volume driven by retail investors shortly after its debut on Arbitrum-based Layer 2 infrastructure. Daily decentralized exchange (DEX) volumes surged past $3 billion earlier this month, with traders creating thousands of tokens within days. The pattern is now repeating as Arc prepares for a public mainnet launch. Circle raised $222 million in an Arc token presale at a $3 billion valuation and has secured 11 founding validators from traditional finance. While the company positions Arc as infrastructure for institutional use, traders are betting on speculative activity during its opening week.
Topics: Arc BlackRock Circle meme coins Robinhood Chain Visa