USDC issuer Circle introduced its layer-1 blockchain, Arc, and said its Q2 revenue and reserve income increased 53% year-over-year. Circle, a publicly traded US company and the issuer of USDC stablecoin, said it will launch a layer-1 (L1) blockchain compatible with the Ethereum Virtual Machine (EVM) later this year. The company released its second-quarter results on Tuesday and announced the introduction of Arc, a new network designed to offer an “enterprise-grade foundation” for stablecoin payments, foreign exchange and capital markets applications. Expected to launch in public testnet, Circle’s Arc will feature USDC (USDC) as its native gas token, enabling users to pay transaction fees with the stablecoin. Read more
Smartown Group has completed the sale of Dionisie Lupu office building in downtown Bucharest, one of the most valuable properties in its local portfolio, in a deal closed at a yield of 8.2%, which reflects investors’ appetite for prime properties in Bucharest in the current market.
Metaplanet and the UK’s The Smarter Web Company added nearly $100 million in Bitcoin on Tuesday, boosting their positions among the largest public corporate BTC holders. Two publicly listed companies, Japan’s Metaplanet and the United Kingdom’s The Smarter Web Company, added almost $100 million worth of Bitcoin to their corporate treasuries. On Tuesday, Metaplanet disclosed that it had purchased 518 Bitcoin (BTC) for about $61.4 million at an average price of $118,519 per coin. The buy lifted the Tokyo-listed company’s total holdings to 18,113 BTC, worth about $2.15 billion at current prices, and acquired at an average of $101,911 per Bitcoin. Led by CEO Simon Gerovich, Metaplanet now ranks sixth globally in public company Bitcoin holdings, behind Michael Saylor’s Strategy, MARA, XXI, Bitcoin Standard Treasury Company, and Riot, according to data from BitcoinTreasuries.NET. Read more