Circle Internet Group Inc. CEO Jeremy Allaire said on Wednesday, August 5, the firm is prioritizing Arc over other blockchains because it sees the network as a major long-term platform opportunity with attractive margin potential.

Circle launches Arc Layer-1 blockchain with BlackRock, Visa among 100+ institutional partners, raising $222M in token presale at $3B valuation.

Shares jumped 10% in pre-market trading as the stablecoin issuer revealed institutional adoption for its layer 1 blockchain Arc.