BlackRock and Visa Back Circle's Arc Blockchain

Circle has announced its initial group of institutional partners for the Arc blockchain, including BlackRock and Visa. The partnership signals growing mainstream backing for Circle's stablecoin infrastructure ambitions.

The involvement of major names lends legitimacy to the project, with BlackRock moving into digital-asset infrastructure and Visa bringing experience in global payment rails.

Circle reported higher quarterly revenue driven by an increase in stablecoin circulation, which generate income through interest earned on reserves backing the tokens.