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ARC Circle is about to open its Arc blockchain to the public, as traditional financial giants endorse a $3 billion project
Circle is only four days away from opening its Arc blockchain to the public. This $3 billion project is being transformed into a real-time network supported by many of the top institutions in the traditional financial industry. Arc's public mainnet is scheduled to go online on September 16, after having been privately operated with the participation of more than 100 institutions and ecosystem builders. Circle said the network is specifically designed for stablecin payments, tokenized assets, foreign exchange trading and round-the-clock financial markets.
Arc's founding verifier group is particularly special in the Layer 1 project and has a strong institutional color. These include BlackRock, American Depository Trusts and Clearing Corporation (DTCC), Visa, MasterCard, ICE, Standard Chartered Bank, Galaxy, MoneyGram and SBI Group, as well as Circle itself. This makes Arc's boot model different from most encrypted networks: the institutions expected to use the infrastructure are also involved in maintaining the security of the network.
Arc already has a network valuation of US$3 billion
The launch was accompanied by a large amount of committed institutional capital. In May, Circle raised $222 million through private pre-sales of ARC tokens, when the token price was $0.30, meaning its fully diluted network valuation reached $3 billion. The subsequent second round of delivery added another $20.25 million, bringing total pre-sale earnings to approximately $242.2 million. Investors include a16z Crypto, BlackRock, Apollo Global Management (Apollo), ARK Invest, Intercontinental Exchange Group (ICE) and Standard Chartered Bank's venture capital arm.
The financing builds on Arc's previous $222 million fundraising, making it one of Circle's largest strategic bets outside the USDC. It is worth noting that Arc will initially adopt a Proof-of-Authority model and run a license verifier mechanism. Circle said the network may transition to a Proof-of-Stake or Delegated Proof-of-Stake (DPoS) mechanism in the future, when ARC will become a native coordination asset for governance, security and network operations.
USDC provides Arc with a ready-made distribution engine
Arc does not start from scratch. At the end of the second quarter, Circle had USDC in circulation as high as US$73.3 billion, and the quarterly USDC transaction volume on the chain reached US$14.8 trillion, a year-on-year increase of 151%. Income and reserve income totaled $701 million. This large stablecoin base gives Circle advantages that most of its new blockchains lack: a large user base, liquidity and enterprise-level partnerships before going public.
Arc uses stablecoins to pay transaction fees and initially supports the use of USDC rather than requiring users to hold volatile Gas tokens. In addition, the network also targets sub-second finality, configurable privacy features, and EVM compatibility. These features continue Circle's earlier Arc strategy, which was built specifically around stablecoin finance rather than competing with other platforms as a universal blockchain.
September 16 is not just network launch day.
Circle plans to release a broader suite of products while launching on the main network, including tools for tokenize real-world assets, AI-assisted smart contract development tools, and reusable on-chain application frameworks. The launch ceremony will also invite participants from BlackRock, DTCC, Aave, Morpho, Uniswap and SBI, further demonstrating how Circle positions Arc as a broad ecosystem that spans traditional finance and decentralized finance (DeFi).
