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Circle Raises $222M for Arc Blockchain Network Amid Stablecoin Expansion

Circle Internet Group secured $222 million in a presale of Arc, its newly launched blockchain network's native token. The platform is valued at $3 billion fully diluted. The funding round drew participation from major financial institutions including BlackRock, Apollo Funds and Intercontinental Exchange, with a16z crypto leading the investment at $75 million. Additional backers included SBI Group and others. The capital raise marks Circle's pivot beyond its core USDC stablecoin business toward broader platform ambitions. Chief Executive Jeremy Allaire characterized the shift as entering the operating system space through a multi-stakeholder distributed network model. Circle's first-quarter earnings beat profit expectations with 21 cents per share, though revenue of $694 million trailed forecasts of $722 million.