Circle raises $222 million from BlackRock and Wall Street giants for Arc blockchain
Crypto Briefing
Circle secured $222 million for its new Arc blockchain, achieving a $3 billion valuation through a historic public company token presale.Summary
Circle Internet Group has raised $222 million in a token presale for its upcoming Arc blockchain, valuing the network at $3 billion. The funding round was led by Andreessen Horowitz and included major institutional investors such as BlackRock, Apollo Funds, and the Intercontinental Exchange. As the first publicly listed company to conduct a token presale, Circle intends to transition from a stablecoin issuer into a broader blockchain infrastructure provider. The Arc Network is designed for high-speed stablecoin transactions and features native token incentives to foster ecosystem growth. Circle will retain 25% of the initial 10 billion token supply to support validator operations and generate new revenue streams.
(Source：Crypto Briefing)