FX risk often lives in the gap between trade agreement and settlement. Today, payment-versus-payment helps reduce that risk, but coverage is limited across currencies, hours, and counterparties. Onchain FX can extend payment-versus-payment-like settlement controls to more of the market: → Both legs settle together, or neither does → Stablecoins serve as settlement assets → Smart contracts enforce conditional exchange → Settlement can operate 24/7 Read more on how Circle StableFX brings onchain FX to Arc: https://www.circle.com/current/extending-pvp-access-with-onchain-fx(Circle)