Circle has launched 11 validators for its Arc blockchain, set to go live on September 16, alongside a mixed Q2 earnings report.
Circle has rolled out the names of 11 key validators for its upcoming Arc blockchain, aimed at enhancing stablecoin payments and financial infrastructure. The mainnet is set to launch on September 16, as disclosed by CEO Jeremy Allaire.
The founding validators include industry giants like BlackRock, DTCC, Mastercard, Visa, and others, building a robust network of over 100 institutional partners.
— Jeremy Allaire - jerallaire.arc (@jerallaire) August 5, 2026
The validators encompass significant firms, including Global Payments, MoneyGram, and ICE, with Circle committing to actively support the network's growth.
Circle's initiative will feature privacy enhancements, tools for programmable finance, and support for real-world assets (RWA), alongside an Agent Stack. Notably, firms like BlackRock and Standard Chartered are currently assessing potential integrations with Arc in areas such as asset tokenization and custodial services.
Despite these advancements, Circle clarified that their Layer 1 blockchain has yet to be reviewed or approved by the New York State Department of Financial Services or other regulatory entities.
Q2 Earnings Overview
This announcement coincides with Circle's mixed earnings report for the second quarter, which revealed revenue and reserve income totaling $701 million, a 7% rise from the previous year, but below the consensus estimate of $713.32 million.
Circle Q2 2026 Earnings Call https://t.co/jNAzvrQD46
— Circle (@circle) August 5, 2026
Adjusted earnings per share stood at $0.18, beating expectations of $0.16, while net income reached $48 million, surpassing the forecast of $43 million.
At the quarter's end, 73.3 billion USDC was in circulation, marking a 19% increase year-over-year, with an impressive 151% surge in on-chain transaction volume totaling $14.8 trillion.
Reserve income also rose by 5% to $668 million, despite a 66 basis point decline in reserve yield. Adjusted EBITDA grew by 8% to reach $143 million. Circle has revised its 2026 Other Revenue forecast from $150-170 million to $310-330 million, attributing part of this to revenue from ARC token presales.
Strengthening USDC Infrastructure
Circle's report highlights significant growth within its Payments Network, which saw a transaction volume of $14.7 billion over the previous month, a 76% increase from the last quarter. The number of financial organizations participating rose by 29% to 175.
Circle also noted the expansion of its Agent Stack, which now includes over 900 paid services, with a staggering 99.3% of agency payment volume settled in USDC.
On August 5, Circle received final approval to establish the Circle National Trust and was granted permission to open Circle New York Trust for digital assets, further solidifying its regulatory framework.
In May, Circle launched the ARC token, drawing $222 million in presale investments from notable participants such as a16z crypto and BlackRock, assigning a $3 billion valuation to the network. However, concerns have been raised by analysts regarding potential impacts on the USDC stablecoin following a recent agreement between Circle and Coinbase with Hyperliquid.
