Circle announces new blockchain amid blockbuster earnings originally appeared on TheStreet .

The crypto company Circle Internet Group (NYSE: CRCL) announced the launch of Arc, an open layer-1, stablecoin-centric blockchain, on Aug. 12.

Designed to provide an enterprise-grade foundation for stablecoin payments, forex, and capital markets applications, the Ethereum Virtual Machine (EVM)-compatible network features the USDC stablecoin as its native gas token.

With the public testnet expected to launch this fall, Arc will be fully integrated across Circle’s platform and services and interoperable with dozens of other partner blockchains supported by Circle.

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The announcement comes amid the stablecoin issuer recording a 53% year-over-year (YoY) surge in its total revenue and reserve during the second quarter of 2025. The figure stood at $658 million in Q2 2025.

Net loss during the last quarter stood at $482 million due to non-cash charges that totaled $591 million around the initial public offering (IPO).

Adjusted EBITDA rose 52% YoY to $126 million in Q2.

“I’m proud of Circle’s performance in the second quarter, our first as a public company, where we demonstrated sustained growth and adoption of our platform across a multitude of use cases and with a diverse set of industry-defining partners,” said Circle co-founder, CEO, and chairman Jeremy Allaire.

Launched in October 2013, Circle is the company behind the USDC stablecoin. With a market cap of $65 billion, it occupies around 24% of the total stablecoin market.

The crypto firm made an extraordinary public debut on the NYSE in June 2025. After posting earnings for the first time after going public, the stock rose 6.5% in pre-market hours and was trading at $172.01 at press time.