Circle has assembled a consortium of eleven leading financial institutions, including BlackRock, Visa, Mastercard, the DTCC and the Intercontinental Exchange, to validate its upcoming Arc blockchain, with a public launch scheduled for September 16. This network will operate with authorized and identified validators, unlike open blockchains, and will use USDC as its native token to pay transaction fees. In the second quarter, Circle generated $701 million in revenue and reserve income, up 7% year-on-year, while USDC supply reached $73.3 billion, a 19% increase. Facing declining reserve yields to 3.5%, Circle is developing infrastructure revenue streams independent of interest rates through Arc, which will host tokenized funds such as BlackRock’s BUIDL and, starting in the second half of 2027, tokenized assets held by the DTCC.
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