Circle has launched Arc, a proprietary blockchain designed for stablecoin payments. This strategic move positions the company as a direct competitor to payment giants like Visa and Mastercard, as well as established crypto networks such as Ethereum and Solana, on which it currently relies. Stripe is also making significant moves in the stablecoin payments space.

The development suggests a larger trend of payment companies building their own blockchain infrastructure to create end-to-end networks. While this could lead to greater efficiency and lower costs, it also raises concerns about the potential for new 'walled gardens' that could limit interoperability within the broader digital asset ecosystem.