According to CoinMeta, Hibachi, a decentralized perpetual contract trading protocol, plans to launch a stablecoin-settled forex trading platform on Arc. The platform will feature instant settlement as the default mode, tight bid-ask spreads, deep liquidity, and matching speed and system availability to meet traders' needs. Hibachi stated that it has received support from Arc Builders Fund, a subsidiary of Circle Ventures. CoinMeta previously reported that Hibachi completed a $5 million seed round of financing last March, with participation from Dragonfly, Electric Capital, and echo, among others.