what's Circle StableFX?
Circle StableFX is an institutional-grade stablecoin foreign exchange (FX) engine developed by Circle, the issuer of USDC. It combines competitive Request-for-Quote (RFQ) execution from a network of liquidity providers with 24/7 onchain settlement, enabling fast, programmable, and always-on FX transactions using stablecoins. Built for global institutions, StableFX supports Circle Partner Stablecoins and integrates with blockchains like Arc testnet. It modernizes the world's largest market (FX) by leveraging stablecoin rails for efficiency, reducing settlement times from days to minutes while maintaining compliance and transparency through onchain verification.
StableFX introduced onchain currency conversion with RFQ execution as part of Circle's 2025 applications.
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x.com/circleAchieved approximately 50% share of stablecoin transaction volume in Q4 2025.
Introduced onchain currency conversion with RFQ (Request for Quote) execution as part of Circle's 2025 digital asset applications.
Circle announces StableFX launch, a new application for global stablecoin finance market infrastructure, now live on Arc testnet with litepaper available.