Stablecoin issuer Circle Internet Group is focusing on building sustainable stablecoin infrastructure for companies and institutions by 2026, Cointelegraph reported on Thursday.
Nikhil Chandok (니킬 찬독), Circle’s chief product and technology officer, said the company will develop its layer-1 blockchain Arc from testnet to production and expand stablecoins such as USDC, EURC and USYC to more chains.
The stablecoin market has grown sharply since the United States introduced stablecoin regulations last year. More financial firms are also considering issuing their own stablecoins.
Circle plans to focus on expanding its payments network so companies can adopt stablecoin payments without building their own infrastructure. USDC is currently the second-largest by market share in the stablecoin market, at $70 billion. Tether (USDT) is the largest, at $186 billion. In October last year, the stablecoin market surpassed $300 billion for the first time.
Chi-gyu Hwang
delight@d-today.co.kr