Circle CEO: Stablecoin Forex Engine StableFX Set to Launch on Mainnet

Foresight News reports that Circle co-founder and CEO Jeremy Allaire tweeted that StableFX is about to go live on the mainnet. Previously, StableFX had been launched on the Arc public testnet. StableFX is an institutional-grade stablecoin forex engine that covers local currency stablecoins in major and emerging markets. It supports near-instant, 24/7 on-demand settlement and adopts a PvP mechanism (simultaneous bilateral settlement or no settlement) to reduce capital usage. It also enables integration with multiple vetted counterparties through a single access point.