Hibachi, a decentralized perpetual futures exchange and portfolio company of Circle Ventures, today announced the development of a new exchange on Arc, an open layer 1 blockchain network developed by Circle. Arc is designed to meet the needs of developers and businesses bringing more economic activity to the chain and is currently in public testnet. Hibachi is participating in the Arc Builders Fund, an initiative by Circle Ventures that supports teams building applications enabled by Arc’s unique architecture.
As stablecoins gain traction as tokenized money for cross-border money movement, Hibachi is building the exchange needed to convert and hedge stablecoins. The exchange will offer spot and derivatives trading on stablecoin currency pairs and support KYC and AML screening as required by institutional trading firms, a key requirement as stablecoins become the standard for cross-border payments and treasury operations.
“Forex market participants blindly accept bank prices because there are no central limit order books. Crypto traders agree to hand over their private keys because centralized exchanges have liquidity. Users on decentralized exchanges lose privacy because their activity is public on the blockchain,” said Chip Dempsey, co-founder of Hibachi. “Hibachi is building a stable exchange with low-latency matching, flexible custody options, privacy-protected transactions, and institutional compliance standards, without blindly relying on banks.”
The 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, stablecoin-based native gas environment, and compliance-ready infrastructure. Together, they are designed to provide the speed, reliability and settlement guarantees expected by professional foreign exchange market participants.
Arc’s public testnet launched in October 2025, with large-scale engagement and collaboration, deep infrastructure support, and global participation from more than 100 companies across the financial ecosystem. With Arc’s mainnet currently scheduled to launch in 2026, Hibachi is expanding its engineering, compliance, and institutional support teams while accelerating development.
About Hibachi
Hibachi is a decentralized perpetual exchange designed for speed, privacy, and verifiable execution. He is based in New York, NY. The exchange architecture combines a central off-chain limit order book with on-chain zero-knowledge proofs, ensuring that trades execute instantly and are publicly verifiable without revealing positions or flows.
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 the Services you provide to Users, including obtaining any necessary licenses or approvals and 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 documents are provided for informational purposes only. All product features may be modified, delayed or canceled without notice, at any time and at the sole discretion of Circle Technology Services, LLC. Nothing herein constitutes a commitment, guarantee, guarantee or investment advice.
