New York, New York, Feb. 12, 2026 (GLOBE NEWSWIRE) -- Hibachi, a decentralized exchange for perpetual futures and a Circle Ventures portfolio company, announced today that it is developing a new FX exchange on Arc, an open Layer-1 blockchain network developed by Circle. Arc is designed to meet the needs of developers and companies bringing more economic activity onchain and is currently in public testnet. Hibachi is a participant in the Arc Builders Fund, a Circle Ventures initiative supporting teams building applications enabled by Arc’s unique architecture.
As stablecoins gain traction as tokenized cash for cross-border money movement, Hibachi is building the exchange needed for stablecoin FX conversion and hedging. The FX exchange will offer spot and derivatives trading across stablecoin FX pairs and will support KYC and AML screening as required by institutional trading firms, a key requirement as stablecoins become standard for cross-border payments and treasury operations.
“FX participants accept bank pricing blindly because there are no central limit order books. Crypto traders accept handing over their private keys because centralized exchanges have liquidity. Decentralized exchange users lose privacy as their activity is public on the blockchain.,” said Chip Dempsey, co-founder of Hibachi. “Hibachi is building a stablecoin FX venue with low-latency matching, flexible custody options, privacy-protected trading, and institutional compliance standards, without relying blindly on banks.”
The FX exchange will combine Hibachi’s high-performance central limit order book and privacy-preserving ZK architecture with Arc’s sub-second finality, opt-in privacy, native stablecoin-based gas environment and compliance-ready infrastructure. Together, they are designed to enable the speed, reliability, and settlement guarantees expected by professional FX market participants.
Arc’s public testnet launched in October 2025, with broad-based engagement and collaboration, deep infrastructure support and global participation from more than 100 companies across the financial ecosystem. With Arc’s mainnet launch currently planned for 2026, Hibachi is expanding its engineering, compliance, and institutional support teams while accelerating development.
About Hibachi
Hibachi is a decentralized perpetuals exchange engineered for speed, privacy, and verifiable execution. It is based in New York, NY. The exchange architecture combines an offchain central limit order book with onchain zero knowledge proofs, ensuring trades execute instantly and are publicly verifiable without revealing positions or flow.
About Arc
Arc testnet is offered by Circle Technology Services, LLC (“CTS”). CTS is a software provider and does not provide regulated financial or advisory services. You are solely responsible for services you provide to users, including obtaining any necessary licenses or approvals and otherwise complying with applicable laws. Arc has not been reviewed or approved by the New York State Department of Financial Services. The product features described in these materials are for informational purposes only. All product features may be modified, delayed, or cancelled without prior notice, at any time and at the sole discretion of Circle Technology Services, LLC. Nothing herein constitutes a commitment, warranty, guarantee or investment advice.
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