Circle raised US$222 million through an ARC token presale for Arc, its new institutional Layer 1 blockchain, giving the network a US$3 billion fully diluted valuation.
The presale drew backing from investors including a16z crypto, BlackRock, ARK Invest, Apollo Funds and Standard Chartered Ventures.
Circle also published the ARC Token whitepaper, which outlines how the token could support governance, security and network operations on Arc.
USDC Growth Lifts Revenue
Circle reported total revenue and reserve income of US$694 million in the first quarter of 2026, up 20% year-on-year.
Revenue less distribution costs rose 24% to US$287 million, while adjusted EBITDA increased 24% to US$151 million.
Net income from continuing operations fell 15% to US$55 million, as higher stock-based compensation and investment costs offset revenue growth.
USDC in circulation reached US$77.0 billion at quarter end, up 28% from a year earlier, while USDC onchain transaction volume climbed 263% to US$21.5 trillion.
Circle Builds Out Agent and Payments Tools
Circle also introduced Circle CLI, Agent Wallets and Agent Marketplace to support agent-driven activity in USDC across blockchains and payment protocols.
In April, the company launched Managed Payments, which allows financial institutions to offer stablecoin payments without directly managing digital assets.
Jeremy Allaire, Co-founder, CEO and Chairman of Circle, said,
“Circle’s first quarter reflected strong execution against a much bigger opportunity: the rapid convergence of AI platforms and economic operating systems into a new internet stack.
With the ARC token presale, momentum behind the Arc network, and the launch of our Agent Stack, we are building trusted infrastructure for AI-native economic activity and a more programmable internet financial system.”
For 2026, Circle expects other revenue of US$150 million to US$170 million, revenue less distribution costs margin of 38% to 40%, and adjusted operating expenses of US$570 million to US$585 million.
Featured image: Edited by Fintech News Singapore, based on image by freepik via Magnific
