Circle said to raise $222 million for Arc blockchain token sale at $3 billion valuation
CoinDesk
Circle raised $222 million for its Arc blockchain token, reaching a $3 billion valuation with support from major institutional investors.Summary
Circle has successfully raised $222 million in a presale of its new ARC token, which supports the upcoming Arc blockchain, at a total valuation of $3 billion. The funding round attracted significant interest from prominent financial institutions and crypto-native firms, including BlackRock, Apollo, a16z crypto, and Bullish. The Arc blockchain is designed to facilitate stablecoin-based capital markets, tokenized assets, and regulated financial activities. Unlike the USDC stablecoin, the ARC token will serve as a core utility asset for network governance and validator security.
(Source：CoinDesk)