Circle Raises Record-Breaking Funds for Blockchain Arc

Circle Internet Group has made a major move into the world of blockchain and digital tokens, raising $222 million in a presale for its new platform Arc.

The raise was led by Andreessen Horowitz with a $75 million investment, and also saw participation from BlackRock and Apollo Funds. This marks a significant milestone in corporate tokenization, as traditional capital markets begin to adopt token-based fundraising and governance models.

Arc is designed to be a stablecoin-focused blockchain, with features such as a modular privacy system and a proof-of-stake consensus mechanism. The platform has already seen growth, with circulation of Circle's USDC stablecoin increasing by 28% in Q1 to reach $77 billion.