Circle Internet Group launches Arc blockchain after $222 million presale
Here's what it means for you.
The launch of Circle's Arc blockchain signals a pivotal shift in the stablecoin market, driven by substantial institutional investment.
What happened
Circle raised $222 million for its Arc blockchain project through a presale of its native token.
The Context
- Major backing: The presale was led by a16z with a $75 million investment.
- Notable investors: BlackRock and Apollo were among the notable investors participating in the funding.
- Valuation boost: Circle's valuation post-funding is approximately $3 billion.
Takeaway
The successful launch of Arc could lead to increased competition and innovation in the stablecoin sector.
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Circle Internet Group Gains 16% as Arc Blockchain Raise Draws Blackrock and Apollo
Circle Internet Group has gained 16% in stock value following a successful $222 million fundraising round led by BlackRock and A16z to launch its new blockchain, Arc, which is valued at $3 billion. This funding aims to support the development of Arc,...
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Circle launches Arc blockchain with BlackRock backing
Circle has launched the Arc blockchain, raising $222 million in a token presale backed by BlackRock and a16z, marking a significant step in the company's expansion into the blockchain space.
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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 (Tanaya Macheel/CNBC)
Circle Internet Group has successfully raised $222 million through the presale of its native Arc token, achieving a valuation of $3 billion. The funding round was led by a16z, which contributed $75 million, with participation from major investors inc...
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Circle raises $222 million from BlackRock and Wall Street giants for Arc blockchain
Circle has successfully raised $222 million from BlackRock and other major Wall Street firms to support its Arc blockchain initiative, which aims to innovate and enhance competition in the stablecoin market. This funding is expected to significantly ...