Circle рассматривает возможность интеграции возвратных транзакций в USDC, столкнувшись с критикой индустрии Translation: Circle considers integrating reversible transactions into USDC, facing industry criticism.

The issuer of the USDC stablecoin, Circle, is exploring options for transaction reversals. This was reported by the Financial Times, citing Circle’s president, Hita Tarbert.

This capability is deemed essential for combating fraud and aligning stablecoins more closely with traditional financial systems.

According to Tarbert, the goal is to merge instantaneous and irreversible transfers with the ability to refund. However, this creates «internal tension,» as it contradicts the fundamental principle of blockchain immutability.

«There are advantages in the current system that the crypto industry does not yet possess,» stated Tarbert.

The idea has drawn criticism for contradicting a key tenet of cryptocurrencies, with some industry participants labeling it “heretical.” One venture investor described such a blockchain as «offensive.»

The refund mechanism is proposed to be integrated into the new Arc network, which Circle is developing for financial institutions. There will be no direct transaction reversals; instead, a second layer will allow parties to negotiate reciprocal payments, similar to credit card chargebacks.

The Arc network is also expected to introduce a privacy layer that will conceal transfer amounts to protect financial information, leaving only wallet addresses visible.

It’s worth noting that in August, Circle announced plans to integrate its network with the institutional platform Fireblocks.

Later, the Japanese financial conglomerate SBI Holdings announced new partnerships with Circle, Ripple Labs, and the Web3 company Startale.