Circle has closed a $222 million strategic raise for its Arc blockchain from Andreessen Horowitz, BlackRock, Apollo Funds, ICE and many other major names. Andreessen Horowitz served as the lead investor in the raise with a $75 million investment.

Arc attracted engagement from 100+ institutions across banking, capital markets, and technology, including Goldman Sachs, Visa, Mastercard, BNY Mellon, Deutsche Bank and HSBC.

Arc's public testnet has processed more than 166 million total transactions since launch, with daily average volumes of 2.3 million transactions and near-100% uptime; settling in approximately 0.5 seconds.