Hibachi to Build FX Trading Venue on Arc as an Arc Builders Fund Participant

Hibachi, a decentralized exchange for perpetual futures, is developing a new FX exchange on Arc, an open Layer-1 blockchain network developed by Circle.

Published on Feb. 12, 2026

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Hibachi, a decentralized exchange for perpetual futures and a Circle Ventures portfolio company, announced that it is developing a new FX exchange on Arc, an open Layer-1 blockchain network developed by Circle. Hibachi is a participant in the Arc Builders Fund, a Circle Ventures initiative supporting teams building applications enabled by Arc's unique architecture. 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.

Why it matters

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 new FX exchange aims to provide the speed, reliability, and settlement guarantees expected by professional FX market participants, combining 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.

The details

Hibachi is expanding its engineering, compliance, and institutional support teams while accelerating development of the new FX exchange. The exchange will combine Hibachi's offchain central limit order book with onchain zero knowledge proofs, ensuring trades execute instantly and are publicly verifiable without revealing positions or flow. 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.

  • Arc's mainnet launch is currently planned for 2026.
  • Hibachi announced the new FX exchange on February 12, 2026.

The players

Hibachi

A decentralized exchange for perpetual futures and a Circle Ventures portfolio company.

Arc

An open Layer-1 blockchain network developed by Circle, designed to meet the needs of developers and companies bringing more economic activity onchain.

Circle Ventures

An initiative supporting teams building applications enabled by Arc's unique architecture.

Chip Dempsey

The co-founder of Hibachi.

Circle Technology Services, LLC (CTS)

The software provider that offers the Arc testnet, which does not provide regulated financial or advisory services.

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What they’re saying

“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.”

— 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.”

— Chip Dempsey, Co-founder of Hibachi

What’s next

With Arc's mainnet launch currently planned for 2026, Hibachi is expanding its engineering, compliance, and institutional support teams while accelerating development of the new FX exchange.

The takeaway

Hibachi's new FX exchange on the Arc blockchain aims to provide the speed, reliability, and settlement guarantees expected by professional FX market participants, while also offering privacy-preserving trading and institutional compliance standards - addressing key pain points in the current FX and crypto trading landscape.