Circle will launch Arc on September 16 with 11 major financial institutions, including BlackRock, DTCC, Visa, Mastercard and ICE, as founding validators. Circle sold 807.5 million ARC tokens at 30 cents each in a private sale, raising approximately $242.2 million and implying a $3 billion fully diluted network valuation. Validators participate in transaction finalization but their role does not guarantee third-party application security or create recourse against these institutions in case of failure. DTCC plans to integrate with Arc in the second half of 2027 to bring custodied assets onto the network. Presale agreements state that buyers may demand repayment if tokens are not delivered or if Arc has not transitioned to Proof-of-Stake by May 2028.
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