Circle Acquires Malachite for Payments-Focused Arc Blockchain
Circle has acquired Malachite, the consensus engine for its upcoming payments-focused blockchain, Arc, from Informal Systems. Key points include:
- Several Informal Systems employees will join Circle.
- Details on the acquisition price were not disclosed.
- Circle is developing a layer-1 blockchain aimed at stablecoin finances.
- Stablecoins are projected to form a trillion-dollar market by 2030.
- Malachite utilizes the Tendermint consensus algorithm and emphasizes performance and security.
- The technology remains open source under the Apache 2.0 license.
- Informal Systems will continue supporting Malachite for other use cases and projects.