Hibachi is a stablecoin-native FX and crypto exchange using an off-chain order book with ZK on-chain settlement. Its FX Perps product is live, and it is building a full stablecoin-settled FX venue on Circle's Arc L1, targeting the ~$9.5T daily forex market and has been live since day one of Arc mainnet (September 16, 2026). The $HEAT token is planned, with a TGE expected after the Arc launch (no confirmed date). Raised a $5M seed in 2025 from Dragonfly, Electric Capital and Echo. The points program, run as 'Playoffs', ends on November 8, 2026, after more than $10B in trading volume.

Hibachi[HEAT]