Circle’s Arc Blockchain to Give Institutions Day-One Access Through Fireblocks

Circle’s Arc Blockchain to Launch with Direct Access for Institutions

Circle is launching its new Arc blockchain with direct access for institutions through Fireblocks, a company that provides secure custody and token services to over 2,400 banks, asset managers, and fintech firms. This early integration is unusual, as blockchains are often added to Fireblocks only after they’ve matured. For example, Solana launched in 2020 but joined Fireblocks in late 2021.

Arc’s public testnet will open this fall, with a full launch expected before the end of the year. Circle describes Arc as a layer-1 blockchain designed specifically for stablecoin finance, offering settlement and compliance tools for institutional users.

Circle’s Growth in 2025

Circle has achieved major milestones this year. In June, it raised $1.05 billion in its IPO—the first by a stablecoin issuer. Shares opened at $69, reached nearly $299 in July, and stabilized around $145 in mid-August.

In its first earnings report as a public company, Circle reported $658 million in revenue for Q2, a 53% increase from last year. Its USDC stablecoin circulation grew 90% to $61.3 billion, surpassing $65 billion in early August.

Circle also launched the Circle Payments Network to improve its settlement infrastructure. In addition, U.S. regulators passed the GENIUS Act in July, providing clearer rules for stablecoins.

Competition in the Stablecoin Market

The stablecoin market is growing fast, now worth about $277 billion, up from $254 billion in early July. USDC holds roughly a quarter of this market, while Tether dominates with over 60%. Tether earned $5.7 billion in Q2, a 277% increase from last year, mostly from investments in $127 billion of short-term U.S. Treasury securities, making it one of the largest private holders of U.S. government debt.

By launching Arc with Fireblocks, Circle aims to give institutional partners early access and strengthen USDC’s position as the stablecoin market grows and regulations become clearer.