Circle Bets $3 Billion on New Blockchain for Finance

Circle, the issuer of the USDC stablecoin, is launching a new blockchain called Arc, valued at approximately $3 billion after a $222 million token presale. This move positions Arc as a potential institutional-grade blockchain for payments and tokenized assets, aiming to compete with established networks like Ethereum and Solana. While major investors like a16z crypto and BlackRock are backing the project, analysts remain divided on its speculative valuation. Arc is designed to offer high-speed, compliant infrastructure for financial institutions, addressing a perceived gap in the market for bank-ready blockchain solutions. The success of Arc could redefine Circle's valuation from a stablecoin issuer to a key infrastructure provider in the evolving digital finance landscape.