Circle-yes, that polite, publicly listed U.S. firm that prints digital dollars like patriotic Monopoly money-has decided the sandbox is too small. Behold, Arc: a layer-1 blockchain so enterprise-grade it probably irons its own code. Launch window set to “later this year,” which in corporate speak means somewhere between the autumn leaves and the heat death of the universe. 🍂⏳
Bienvenue, Arc: The Blockchain That Wears Suspenders to Dinner
In a press release so glossy it reflects moonlight, Circle presents Arc: an EVM-compatible marvel that pays gas fees in USDC (because nothing screams decentralization like paying fees with the very coin you minted). It plugs in an FX engine that swaps currencies faster than you can mispronounce “rouble” and offers privacy controls-optional, of course, lest someone accuse big business of respecting secrets too much. 😏
By fall, a public testnet shall descend like an early frost; cross-chain interoperability promised “out of the box,” assuming the box wasn’t packed by interns on their first day.
Quarterly Soap Opera: $658 M in Revenue, but Mother IPO Still Slaps a $482 M “Ouch”
USDC circulation ballooned to $65.2 billion-great news for printers and terrible news for those who feared traditional banking might one day ask for its toys back. Revenue surged 53% y/y, yet net loss clocks in at $482 million thanks to $591 million in non-cash IPO related expenses. Translation: we threw a lavish debutante ball and forgot we still have to pay the caterers. 🎉💸
Jeremy Allaire, CEO & resident optimist, called the IPO a “key milestone.” Somewhere a finance professor feels a migraine coming on.
Milestones, Partnerships & Other Shiny Baubles
This year alone Circle:
- Floated a $1.2 billion IPO without accidentally launching into orbit.
- Debuted the Payments Network-now starring over 100 financial institutions all pretending stablecoins aren’t just fancy email attachments.
- Released Gateway on testnet, allowing instant USDC hops across chains, no bridges required (sparing users from the usual medieval drawbridge tolls 😉).
Partners range from Binance to Fiserv. Basically, if it has a logo and a compliance officer, Circle probably brunch-meets it on Tuesdays. 🥞🤝
With the freshly inked GENIUS Act, stablecoins have federal guardrails at home. Market cap sits above $282 billion-size large enough that even grandmothers now confuse it with the national debt. 🤓
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2025-08-12 18:31