Circle Names BlackRock, DTCC Among 11 Arc Validators as Q2 Revenue Hits $701 Million

According to Circle's announcement on Wednesday, the stablecoin issuer named 11 founding validators for its Arc blockchain, including BlackRock, The Depository Trust & Clearing Corporation, Galaxy, Global Payments, ICE, Mastercard, MoneyGram, SBI Group, Standard Chartered, Sumitomo Corporation, and Visa.

Arc is a Layer 1 blockchain using USDC as its native gas token with sub-second finality and EVM compatibility. The network is set to launch its public mainnet on September 16 after completing private testing with over 100 ecosystem builders. Circle's Q2 results showed total revenue of $701 million, up 7% year-over-year, with USDC in circulation reaching $73.3 billion, up 19% year-over-year. The company also received final approval from the U.S. Office of the Comptroller of the Currency to establish a national trust bank, Circle National Trust.