Circle Raises $222 Million in Arc Token Presale Backed by BlackRock and Apollo

CNBC reported Monday that Circle Internet Group has closed a $222 million Arc token presale, drawing in a roster of heavyweight institutional backers. The raise values Arc’s network at a fully diluted $3 billion. Circle CEO Jeremy Allaire told CNBC the company is moving well beyond its origins as a stablecoin issuer.

Institutional Giants Anchor the Arc Token Presale

Andreessen Horowitz led the round with a $75 million commitment. BlackRock, Apollo Funds, NYSE parent Intercontinental Exchange, Standard Chartered Ventures, General Catalyst, Janus Henderson Investors, ARK Invest, Marshall Wace, SBI Group, IDG Capital, Haun Ventures and crypto exchange Bullish all participated. The roughly dozen-strong investor group signals serious institutional appetite for blockchain infrastructure built around regulated finance.

Arc is a public blockchain designed specifically for institutional-grade financial activity. Allaire described it as something far broader than payments or stablecoins. He told CNBC it is capable of running contractual and governance frameworks that underpin entire economies.

Also Read: What Is USDC? Circle’s Dollar-Pegged Stablecoin Explained

Circle’s Push Beyond USDC

Circle built its reputation as the issuer of USDC, the second-largest stablecoin by market cap. But that business alone faces mounting competition. Allaire framed Arc as Circle’s entry into the platform layer, comparing blockchain infrastructure to mobile operating systems and cloud computing.

Andreessen Horowitz’s crypto arm wrote in a Monday blog post that while USDC has earned institutional trust, the underlying internet infrastructure it operates on was never designed for large financial players. Arc is positioned to close that gap.

Circle will hold 25% of Arc’s initial ten billion token supply. That stake lets the company operate validator nodes, collect transaction fees and earn staking income. Sixty percent of tokens are earmarked for developers, users and contributors. The remaining 15% goes to a long-term reserve fund.

Background: Circle’s Road to Public Markets

Circle went public on the New York Stock Exchange in June 2025. Its IPO came after years of failed attempts, including an abandoned SPAC deal. The listing gave the company a cleaner capital base and broader investor access heading into this institutional push.

The Arc launch also coincides with Circle unveiling a developer toolkit aimed at AI agents. These tools would allow automated software systems to execute transactions, access services and settle payments using USDC. Allaire argued that AI-driven automation is accelerating the need for programmable, machine-readable financial infrastructure.

Also Read: Stablecoin Legislation Advances in the Senate Amid Industry Lobbying Push

What Comes Next for Circle

Circle’s success with Arc depends heavily on developer adoption and transaction volume on the network. Allaire pointed to on-chain activity as the key metric investors should watch. If Arc gains traction, it could give Circle a durable revenue stream independent of USDC issuance spreads.

Read Next: Circle IPO Pricing and What It Means for Stablecoin Markets