Circle Raises Funding at $3 Billion Valuation for Arc Blockchain

AI Summary

Circle, known for its USDC stablecoin, has announced a successful fundraising round of $222 million aimed at supporting its new Arc blockchain initiative, achieving a valuation of $3 billion. This resurgence highlights growing investor interest and confidence in blockchain technology.

Circle, the stablecoin issuer of USDC, jumped 16% Monday after reporting revenue growth and announcing a fundraising for its planned blockchain. The company said it raised $222 million for Arc, a stablecoin-focused blockchain, at a $3 billion valuation from investors including a16z crypto, ...