Circle Internet Group, listed on the New York Stock Exchange under the ticker CRCL, has announced the introduction of Arc, a new open, layer-1 blockchain designed to serve as a stablecoin-focused network. The platform, revealed on August 12, aims to provide an enterprise-grade infrastructure for applications in stablecoin payments, foreign exchange, and capital markets. Built to be compatible with the Ethereum Virtual Machine (EVM), Arc features the company’s USD Coin (USDC) stablecoin as its native gas token.
According to the company’s plan, a public testnet for Arc is scheduled for release in the fall of 2025. The blockchain will be deeply integrated with Circle’s existing services and platform offerings, while also being interoperable with numerous partner blockchains already supported by the firm.
The announcement coincided with the company’s latest quarterly performance update, which showed a strong year-over-year growth in revenue and reserves. Circle reported that total revenue and reserves for the second quarter of 2025 had increased by 53% compared to the same period in the previous year, reaching $658 million.
Strong revenue growth despite quarterly loss
Despite this revenue boost, Circle posted a net loss of $482 million during the quarter. This loss was attributed to non-cash charges amounting to $591 million, which were linked to expenses related to its initial public offering (IPO). The company’s adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) reached $126 million in the second quarter, marking a 52% year-over-year increase.
Company leadership expressed satisfaction with the quarterly performance, highlighting it as the firm’s first full quarter as a publicly traded company. They pointed out that the results demonstrated continued adoption of Circle’s platform across a broad range of use cases and partnerships involving significant industry players.
LATEST: Circle announces “Arc,” a new Layer 1 blockchain dedicated to stablecoins, with USDC as its primary asset.#Circle #Arc #Stablecoins $USDC #Blockchain pic.twitter.com/EnmGoQ7BpX
— Roundtable Network (@RTB_io) August 12, 2025
A decade-long journey to market leadership
Founded in October 2013, Circle is best known as the issuer of the USDC stablecoin. With a market capitalization of $65 billion, USDC currently accounts for approximately 24% of the global stablecoin market. The company has positioned itself as a key player in the growing ecosystem of blockchain-based payments and finance.
Circle made its public debut on the NYSE in June 2025, an event that attracted significant market attention. Following the release of its first earnings report as a public company, the stock price climbed by 6.5% in pre-market trading and was valued at $172.01 at the time of reporting.
The launch of Arc represents a strategic expansion of Circle’s technological foundation, positioning it to enhance the role of stablecoins in global payments and capital markets. By combining interoperability with partner blockchains and deep integration into its own services, Circle appears to be aiming for broader adoption of USDC across institutional and enterprise-level financial infrastructure.