Circle raises $222M for Arc

Circle Internet Group said on May 11 that it raised $222 million in a presale of the ARC token tied to its Arc blockchain, a stablecoin-focused network the company has been building as part of a broader push beyond issuance of USD Coin. The company disclosed the financing in its first-quarter 2026 results and said the sale valued Arc at a $3 billion fully diluted network valuation. Circle listed a16z crypto, Apollo Funds, ARK Invest, BlackRock, Bullish, General Catalyst, Haun Ventures, Intercontinental Exchange, IDG Capital, Janus Henderson Investors, Marshall Wace, SBI Group and Standard Chartered Ventures among the investors. ### What exactly is Arc, and how does it fit inside Circle? Circle introduced Arc in August 2025 as an open layer-1 blockchain built for stablecoin finance. In that launch post, the company said the network was designed for enterprise-grade payments, capital markets and foreign-exchange use cases, with stablecoins at the center of activity. (circle.com) Circle’s current product materials place Arc alongside USDC and the Circle Payments Network as part of what it calls a full-stack platform for the “internet financial system.” In a January 2026 product-vision post, Circle described Arc as infrastructure intended to connect traditional finance and onchain markets rather than as a standalone consumer crypto product. ### Where did the $222 million figure appear? (circle.com) Circle disclosed the fundraising in its May 11 first-quarter earnings release, not in a separate standalone financing announcement. The release listed the “ARC Token” presale under business highlights and paired it with operating metrics showing USDC in circulation of $77.0 billion at quarter-end and $21.5 trillion in USDC onchain transaction volume during the quarter. (circle.com) CNBC reported that Andreessen Horowitz led the investment with a $75 million commitment. Circle’s own earnings release did not identify a lead investor, but it did name the broader investor group. ### What does a $3 billion network valuation refer to here? Circle said the $3 billion figure was a fully diluted network valuation for Arc. (circle.com) In crypto fundraising, that generally refers to the implied value of the network if the full token supply were counted, rather than only the tokens sold in the round; that reading is based on the company’s wording in the earnings release and on market convention. (cnbc.com) Blockonomi and other crypto trade outlets reported the sale involved 740 million ARC tokens at $0.30 each. Circle’s earnings release excerpt visible in search results did not include token-count details, so the company-supplied figure that can be directly verified is the $222 million raise at a $3 billion fully diluted valuation. ### Why is Circle raising money around a blockchain now? (circle.com) Circle said in its 2026 report that public blockchains, regulated stablecoins and programmable infrastructure are becoming the foundation of what it called a new internet-native financial system. Arc is positioned inside that strategy as the blockchain layer intended to carry more of the transaction and application activity around USDC and related services. (blockonomi.com) The October 28, 2025 launch of Arc’s public testnet brought in more than 100 launch and design participants, according to Circle. That testnet announcement said Arc was aimed at developers and companies moving more economic activity onchain, giving the latest financing a defined next stage: turning an already-launched test network into a broader operating ecosystem. (circle.com) ### What concrete markers should readers watch next? October 28, 2025 is the date Circle launched Arc’s public testnet, and the company said more than 100 companies were involved at launch. Circle has also opened a developer funding program for early ecosystem growth, according to CoinMarketCap’s summary of the company’s announcement. Circle’s next formal update point is likely its subsequent quarterly reporting cycle, where investors will be able to track USDC circulation, transaction volume and any additional disclosures on Arc token distribution, ecosystem participants or a mainnet timeline. (circle.com 1) (circle.com 2)