Circle Internet Group has raised $222 million through a presale of ARC, the native token of its upcoming blockchain network, giving the project a fully diluted valuation of $3 billion. The fundraising marks one of the largest institutional token sales involving a publicly traded crypto company and reflects increasing interest in blockchain infrastructure tied to regulated financial services.
The presale was led by Andreessen Horowitz, which invested $75 million. Other participants included BlackRock, Apollo Global Management, Intercontinental Exchange, SBI Group, ARK Invest, General Catalyst and Haun Ventures.
The sale reportedly covered 740 million ARC tokens priced at $0.30 each. The agreement also includes repayment provisions tied to development milestones for the blockchain network, giving investors the right to seek repayment if certain targets are not met.
Circle Expands Beyond Stablecoin Operations
Circle said the capital will be used to support development of Arc, a blockchain network intended for institutional finance applications including digital asset settlement, tokenized financial instruments and payments infrastructure.
The company, which is primarily known for issuing the USDC stablecoin, is seeking to expand beyond stablecoin issuance as competition in the sector increases. USDC currently operates across external blockchains including Ethereum and Solana, leaving Circle dependent on third-party infrastructure for settlement and transaction activity. As Circle builds its own network, the company has also highlighted Circle Arc blockchain quantum-resistant security as part of its long-term infrastructure roadmap, aiming to strengthen transaction protection for institutional users as digital finance systems prepare for next-generation cybersecurity challenges.
The fundraising was announced alongside Circle’s Q1 2026 earnings results, which showed mixed financial performance. Revenue rose 20% year over year to $694 million but fell short of analyst estimates of $715 million. Net income declined 15% to $55 million, which the company attributed partly to higher operating expenses following its public listing, including stock-based compensation costs.
Circle said Arc’s total token supply will be capped at 10 billion tokens. According to the company, 60% of the supply is allocated to developers, users and ecosystem participants, while 25% is linked to Circle’s validator and infrastructure operations. The remaining 15% is reserved for long-term network development.
AI Tools and Institutional Testnet Participation
The company also introduced a suite of AI-related developer tools under a program called Agent Stack. The tools include digital wallets and payment infrastructure designed for autonomous AI systems capable of conducting transactions using USDC. Circle additionally disclosed plans for an Agent Marketplace intended to support AI-related financial applications built on the Arc network. The expansion comes as Circle launches cirBTC for wrapped bitcoin market, further broadening the company’s digital asset ecosystem beyond stablecoins and positioning it to serve institutional demand for tokenized bitcoin liquidity and cross-chain settlement solutions.
Circle said Arc’s public testnet has been active since October 2025 and includes participation from more than 100 organizations. Those participants include financial institutions such as Goldman Sachs and BNY Mellon, according to the company.
Stablecoin Competition and Institutional Token Sales
The fundraising comes as competition in the stablecoin market intensifies following regulatory developments in the United States. Financial institutions and fintech companies have increasingly explored issuing their own dollar-backed digital tokens after lawmakers advanced legislation focused on stablecoins and tokenized financial assets.
The deal also highlights renewed institutional participation in token-based fundraising models after years of regulatory scrutiny following the collapse of the initial coin offering market during the 2017 crypto cycle. Recent token sales have increasingly targeted institutional investors and included more formal governance and compliance structures than earlier retail-focused offerings.
Circle’s move into blockchain infrastructure reflects a broader shift among crypto firms seeking to diversify revenue sources beyond trading activity and reserve income tied to stablecoins.
