Circle secures $222 million for its Arc blockchain, boosting USDC adoption, while Q1 earnings exceed EPS estimates despite revenue miss.
Circle Internet Group (CRCL) announced a $222 million presale raise for its Arc blockchain, led by BlackRock (BLK) and other institutional investors, valuing the network at $3 billion. The investment aims to expand USDC’s role as Arc’s native gas token, reducing reliance on Ethereum and Solana networks.
The company reported Q1 revenue of $694 million, below the $715 million estimate, but adjusted EPS of $0.21 beat expectations of $0.18. USDC circulation reached $77 billion, up 28%, while onchain transaction volume surged 263% to $21.5 trillion.
CRCL stock climbed 2% to $116.23 following the announcement, reflecting investor optimism about the funding round and earnings performance.