CoinDesk
Circle raised $222 million in a presale of the ARC token tied to its new Arc blockchain, valuing the network at $3 billion. The round drew a mix of Wall Street and crypto-native capital, including BlackRock, Apollo Funds, a16z crypto, ARK Invest, Bullish, Haun Ventures, Intercontinental Exchange and Standard Chartered Ventures, according to a CNBC report on Monday.
Arc began testing in October and is being positioned as a blockchain optimized for stablecoin-based capital markets — tokenized assets, cross-border settlement and onchain finance for regulated activity. ARC itself is framed in Circle's whitepaper, also published Monday, as a "native coordination asset" for governance, validator security and network operations, a role closer to ether on Ethereum or SOL on Solana than to a payment token like USDC.
Why it matters
The fundraise is Circle's most ambitious expansion beyond USDC and payments infrastructure, and the investor roster signals how serious TradFi is taking the bet. BlackRock, Apollo, ICE and Standard Chartered Ventures are not crypto tourists — they run balance sheets, custody rails and clearing infrastructure that could plausibly settle on Arc if the network delivers. A $3 billion implied valuation on a chain still in testnet is the kind of multiple that prices in real institutional adoption, not just speculative token demand.
It also puts Circle into direct competition with the rest of the L1 field for the institutional-finance wedge. The Digital Asset Holdings / Canton Network comparison Bloomberg flagged on the same day is the cleanest read: Canton already has major financial institutions running production workloads, and is raising around $300M at a ~$2B valuation. Arc is younger, but it has Circle's USDC distribution and the largest US-listed stablecoin issuer behind it.
Market impact
The presale is expected to close in the coming weeks and the final amount may vary, sources told Bloomberg.
Frequently asked questions
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What is the Arc blockchain?
Arc is a new Layer-1 blockchain developed by Circle, the issuer of USDC. Testing began in October 2025 and it is being positioned as a network optimized for stablecoin-based capital markets, including tokenized assets, cross-border settlement and onchain finance for regulated activity.
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What is the ARC token used for?
ARC is described in Circle's whitepaper as a "native coordination asset" designed to support governance, validator security and network operations on Arc — a role closer to ether on Ethereum or SOL on Solana than to a payment-stablecoin like USDC.
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Who invested in Circle's $222 million Arc presale?
The round included BlackRock, Apollo Funds, a16z crypto, ARK Invest, Bullish, Haun Ventures, Intercontinental Exchange and Standard Chartered Ventures, according to a CNBC report. Sources told Bloomberg the presale is expected to close in coming weeks and the final amount may vary.
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Why does the $3 billion Arc valuation matter?
It is a $3 billion implied valuation on a blockchain still in testnet, which prices in real institutional adoption rather than speculative token demand. The investor list — BlackRock, Apollo, ICE, Standard Chartered — covers the balance sheets, custody rails and clearing infrastructure that could plausibly settle on…
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How does Arc compare to the Canton Network?
Canton Network, built by Digital Asset Holdings, is already running production workloads for major financial institutions and is raising around $300 million at a roughly $2 billion valuation per Bloomberg. Arc is earlier-stage, but it has Circle's USDC distribution and the largest US-listed stablecoin issuer behind it.
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