Circle Internet Group (NYSE: CRCL) has unveiled Arc, a new open, layer-1 blockchain focused on stablecoins, on Aug. 12.
Built for enterprise-grade use in stablecoin payments, foreign exchange, and capital markets, the Ethereum Virtual Machine (EVM)-compatible network will use the USDC stablecoin as its native gas token.
A public testnet is scheduled for release this fall. Arc will be fully integrated with Circle’s products and services and will work seamlessly with dozens of partner blockchains already supported by the company.
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Circle Records $482M Net Loss on IPO-Related Charges
The launch comes as Circle reports a 53% year-over-year increase in total revenue and reserves for Q2 2025, reaching $658 million.
The company reported a net loss of $482 million in the last quarter, driven by $591 million in non-cash charges related to its initial public offering (IPO).
“I’m proud of Circle’s performance in the second quarter, our first as a public company, where we demonstrated sustained growth and adoption of our platform across a wide range of use cases and with a diverse group of industry-leading partners.”
Circle Founder
Founded in October 2013, Circle is the issuer of the USDC stablecoin, which has a $65 billion market cap and holds roughly 24% of the global stablecoin market.
The company made a high-profile debut on the NYSE in June 2025. Following its first earnings release as a public company, Circle’s stock jumped 6.5% in pre-market trading, reaching $172.01 at press time.
