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Circle launched the StableFX on-chain forex engine.
According to a report from CoinDesk on November 13, the USDC issuer Circle announced the launch of StableFX, a stablecoin-based forex engine designed to enable 24/7 on-chain currency trading through its self-developed Arc Blockchain. The product is currently live on the Testnet, with plans for Mainnet launch in 2025. StableFX allows institutional users to trade stablecoin currency pairs in real-time and provides quotes from multiple liquidity providers. Circle also launched the Circle Partner Stablecoins project, supporting non-USD stablecoins including Avenia(BRLA), Juno(MXNB), and Stablecorp(QCAD). Reports predict that stablecoins could handle $1 trillion in payment volume annually by 2030.