Key facts
- Circle Internet Group's Arc Layer-1 blockchain public mainnet is scheduled to launch on September 16.
- Founding validators for Arc include BlackRock, Visa, Mastercard, Goldman Sachs, SBI Group, and others.
- BlackRock plans to deploy its BUIDL fund on the Arc network.
- Circle will partner with DTCC to enable tokenization of assets on Arc starting in late 2027.
- Circle reported Q2 revenue of $701.3 million and EPS of $0.18.
Circle Internet Group has announced that its Arc Layer-1 blockchain will launch its public mainnet on September 16, with September 18 also cited as a launch date. The company revealed a cohort of founding validators for the stablecoin-native network, including major financial institutions such as BlackRock, Visa, Mastercard, Goldman Sachs, SBI Group, The Depository Trust & Clearing Corporation (DTCC), Galaxy, Global Payments, ICE, MoneyGram, Standard Chartered, and Sumitomo Corporation.
BlackRock is expected to integrate its BUIDL fund into the Arc ecosystem, enabling institutional investors to manage fund assets on-chain. Robert Mitchnick, Global Head of Digital Assets at BlackRock, stated that purpose-built networks like Arc can facilitate faster settlement and broader institutional adoption of digital assets.
Circle is also collaborating with DTCC to bring tokenized assets into the Arc network, with integrations planned for the second half of 2027. Other institutions like BNY and Standard Chartered are exploring similar integrations for services including asset settlement, custody, stablecoin access, and foreign exchange and repo infrastructure.
In parallel, Circle released its second-quarter financial results, reporting $701.3 million in revenue, slightly below the expected $712.3 million, but an earnings per share (EPS) of $0.18, surpassing the consensus estimate of $0.16. The company minted $83 billion in USDC, falling short of the $88.8 billion forecast.
Despite the mixed financial report, Circle's stock saw a premarket jump of over 1% to around $64. However, Morgan Stanley downgraded Circle Internet Group from 'equalweight' to 'underweight,' slashing its price target from $106 to $38. Conversely, JPMorgan maintained an 'overweight' rating with a $120 price target.