Circle launches StableFX institutional-grade forex engine and Partner Stablecoins program to expand multi-currency stablecoin ecosystem

Circle announced the launch of two new products based on its Arc blockchain (which is set to launch its mainnet in 2026): Circle StableFX and Circle Partner Stablecoins.

Circle StableFX is an institutional-grade, stablecoin-based foreign exchange (FX) engine that is currently available on the Arc public testnet. It allows institutions to trade selected stablecoin currency pairs 24/7 at competitive prices, reducing counterparty risk and enabling on-chain settlement through an RFQ (Request for Quote) execution method. The Circle Partner Stablecoins initiative aims to support selected regional stablecoin issuers in deploying their non-USD stablecoins on Arc. The first partners include Avenia (BRLA), Busan Digital Asset Custody Services (KRW1), Coins.ph (PHPC), among others, covering multiple currencies such as the Brazilian Real, Korean Won, and Philippine Peso. Circle stated that StableFX, Partner Stablecoins, and Arc together form a unified stack that connects global currencies on-chain, aiming to elevate foreign exchange settlement from T+1 to real-time settlement, promoting more efficient global currency flows.