Circle Internet Group Inc. (NYSE:CRCL) has raised $222 million for its new institutional blockchain Arc at a $3 billion valuation as shares jumped 2.5% in premarket trading.

The First Public Company Token Presale

a16z crypto led the round with a $75 million commitment, according to CNBC. 

BlackRock Inc. (NYSE:BLK), Apollo Global Management (NYSE:APO), Intercontinental Exchange Inc. (NYSE:ICE), Bullish (NYSE:BLSH), SBI Group, Janus Henderson Investors, Standard Chartered Ventures, General Catalyst, Marshall Wace, ARK Invest, IDG Capital, and Haun Ventures completed the investor syndicate.

Meanwhile, Circle becomes the first publicly listed company to conduct a token presale.

Arc is a public blockchain built for institutional finance, using USDC as its native gas token with sub-second finality and EVM compatibility.

Q1 Revenue Up 20%, Net Income Down 15%

Circle reported Q1 2026 results alongside the Arc announcement. Total revenue and reserve income reached $694 million, up 20% year-over-year, driven by USDC in circulation growing 28% to $77 billion at quarter’s end.

That growth translated into massive on-chain activity. USDC transaction volume hit $21.5 trillion for the quarter, a 263% jump from the prior year, while adjusted EBITDA climbed 24% to $151 million.

Moreover, net income from continuing operations fell 15% to $55 million as operating expenses surged 76%, primarily from post-IPO stock-based compensation and related payroll taxes.

Why Arc Matters For Circle

If Arc gains traction, Circle could own more of the infrastructure USDC currently depends on.

Right now, USDC relies heavily on networks like Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL) for settlement and on distribution partners like Coinbase Global Inc. (NASDAQ:COIN).

Of Arc’s 10 billion token supply, 60% flows to participants who build on and use the network. Circle holds 25%, enabling it to operate validator infrastructure and earn staking income.

The presale is as much about defense as growth. With stablecoin legislation advancing, some investors fear banks and fintechs could launch competing dollar tokens, removing the need for a third-party issuer like Circle.

Image source: Shutterstock