Circle Internet Group has raised $222 million in the presale of Arc, the native token of its new blockchain, as part of its strategy to diversify beyond its core USDC stablecoin business.
This funding values Arc at a fully diluted network valuation of $3 billion.
Circle CEO Jeremy Allaire highlighted the growing importance of blockchain infrastructure, stating, “Blockchain infrastructure is becoming as important as mobile operating systems or cloud platforms.
We want to build an operating system with many stakeholders, including major companies that will help govern it.”
Source (CNBC)
