Aave V4 Arc Markets Launch With Dollar-Euro Loans on Shared Liquidity

The design choice worth noting is the separation of collateral eligibility between Arc's Main and Forex markets: EURC can back loans in the latter but not the former, which suggests a deliberate risk partition rather than a unified pool. That matters for stablecoin borrowers weighing whether shared liquidity actually translates into deeper euro-denominated credit, or simply a different set of constraints. Whether the two-market structure attracts meaningful cross-currency demand, or fragments liquidity that would otherwise concentrate, is the open question.