Circle Internet Group (NYSE: $CRCL) raised $222 million through the presale of Arc, its native token on a new blockchain.
The ARC token is currently in pre-sale as Circle seeks to diversify its business beyond issuing USD Coin (CRYPTO:美元), its popular stablecoin.
Andreessen Horowitz is a major investor that acquired Arc for $75 million.
Other notable investors include BlackRock (NYSE: $BLK), Apollo (NYSE: $APO), and Intercontinental Exchange, the parent company of NYSE (NYSE: $ICE).
The presale investment valued the Arc token network at $3 billion.
Arc is a public blockchain designed for institutional finance. Circle Internet Group says its capabilities extend far beyond stablecoins and payments, emphasizing that it can “run a real economy.”
As a 25% shareholder of Arc's initial supply of 10 billion tokens, Circle can participate in operating validator infrastructure, generating new fee income and earning staking rewards.
Circle stated that the majority of tokens (60%) will be allocated to participants who use and contribute to the Arc network.
Circle added that the issuance of ARC tokens comes at a time when the global economy is becoming increasingly automated, with AI agents handling more tasks traditionally managed by humans.
The company has also launched a suite of services and tools designed to help developers build AI agents that can manage transactions, access online services, and make payments using USDC.
Analysts say that if Arc succeeds, Circle can gain greater control over the infrastructure its USDC stablecoin relies on.
Currently, USDC relies on Ethereum (CRYPTO:以太坊) and Solana (CRYPTO:SOL) for settlement and distribution.
Stablecoins are cryptocurrencies pegged to another asset, typically the US dollar.
Since the beginning of this year, CRCL stock has risen by 36%, and is currently trading at $113.67 per share.