Circle Raises $222M for Arc Blockchain at $3B Valuation as BlackRock, Apollo, and a16z Crypto Pile In

Circle, the $77-billion-USDC issuer, just made its biggest strategic move yet beyond stablecoins. On Monday, the company raised $222 million in a presale for its ARC token at a $3 billion valuation, backed by a who's who of institutional finance: BlackRock, Apollo Funds, a16z crypto, ARK Invest, Bullish, Haun Ventures, Intercontinental Exchange, and Standard Chartered Ventures.

The raise coincided with Circle's Q1 2026 earnings report, which beat analyst expectations. EPS of $0.21 topped the $0.17 consensus, while revenue grew 20% year-over-year to $694 million. Adjusted EBITDA climbed 24% to $151 million.

The real standout metrics, though, were USDC growth figures: onchain transaction volume surged 260% from the prior-year quarter to $21.5 trillion, and USDC in circulation rose 28% to $77 billion.

Arc, which began testing in October 2025, is positioned as a blockchain optimized for stablecoin-based capital markets — tokenized assets, cross-border settlement, and regulated onchain finance. The ARC token functions as a 'native coordination asset' for governance, validator security, and network operations, playing a role similar to ETH on Ethereum or SOL on Solana.

CRCL shares were up 1.2% in pre-market trading at $115.