Circle raised $222M via the presale of its native Arc token at a $3B valuation; a16z led with a $75M investment, with participation from BlackRock and others
Circle Internet Group has raised $222 million in the presale of Arc, the native token of its new blockchain …
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Circle Raises $222M in Arc Token Presale at $3B Valuation
Stablecoin giant Circle sold its new Arc blockchain token in a presale led by a16z with BlackRock also participating.
Circle Internet Group just pulled in $222 million through the presale of Arc, the native token for its new blockchain. The deal values the company at $3 billion.
Andreessen Horowitz led the round with a $75 million investment. BlackRock joined alongside other unnamed participants.
Arc represents Circle's push beyond its stablecoin roots into native blockchain infrastructure. The presale model — selling tokens before a public launch — lets Circle lock in institutional capital while building out the network.
Landing both a16z and BlackRock signals serious institutional appetite for blockchain infrastructure plays. BlackRock's involvement is particularly notable given its growing footprint across crypto markets.
Circle, best known for issuing the USDC stablecoin, is betting that its own blockchain and token can capture value beyond just dollar-pegged digital currency.