Circle Secures $222 Million for Arc Blockchain

Circle Internet Group has taken a significant step in its bid to become a major player in the blockchain space, raising $222 million in a presale of its Arc token. The funding round was led by a16z crypto, with participation from notable investors including BlackRock and Apollo Funds, among others.

The Arc network is designed for institutional finance, using USDC as its native gas token and offering sub-second finality, opt-in privacy, and EVM compatibility. With this infrastructure in place, Circle aims to reduce its reliance on external networks and distribution partners, such as Ethereum and Coinbase.