Circle integrates Arbitrum into Web3 platform to support USDC and DeFi

Circle Internet Financial has integrated the Arbitrum Layer 2 scaling solution into its Web3 infrastructure platform.

New opportunities for Arbitrum users

Circle's Web3 platform brings programmable USDC-focused wallets, smart contract tools, and gas fee abstraction to Arbitrum. According to DefiLlama, Arbitrum is the largest Ethereum-based Layer 2 solution, with a total value locked (TVL) of approximately $2,5 billion.

Support for global payments

Circle’s Chief Product Officer stated that the platform helps developers create contactless embedded wallets that support USDC for global payments, e-commerce, and gaming.

Stablecoin market competition

Integration with Arbitrum is another step for Circle to accelerate USDC adoption, as this asset competes with USDT for market dominance.

Arbitrum's status in DeFi

Arbitrum is a key platform for Circle due to its status as a de facto hub for decentralized finance (DeFi) among Layer 2 solutions. Nearly $4,7 billion of stablecoins are used on Arbitrum across various sectors, from lending and decentralized exchanges to perpetual leveraged trading.