Circle — the company behind USDC — raised $222M in a presale of $ARC, the native token of its new institutional Layer 1 blockchain, at a $3 billion fully diluted valuation. a16z led with a $75M purchase, with BlackRock, Apollo, Intercontinental Exchange, Standard Chartered, and Janus Henderson all participating.

So what is Arc actually for? Arc is an EVM-compatible Layer 1 built specifically for institutional finance — USDC is the gas token, and the chain features built-in settlement, optional privacy, and quantum-resistant security. The public testnet launched in October 2025 with over 100 institutional participants including BlackRock, Visa, Goldman Sachs, and Anthropic, processing over 166 million transactions. Think of it as the financial rails that USDC has always needed — purpose-built for regulated capital markets, tokenized assets, and cross-border settlement operating 24/7 on-chain.

Why are institutions backing it? Simple: USDC onchain transaction volume jumped 263% to $21.5 trillion in Q1 alone. The demand for stablecoin infrastructure is real and growing fast — and Arc is Circle's bet on owning the entire stack, from the stablecoin to the chain it runs on. When BlackRock and Apollo write checks into a token presale, they're not speculating — they're securing a seat at the table for the next phase of institutional on-chain finance.$BTC $USDC #Circle reports USDC growth #circle