Circle Raises FY26 Guidance on $180M Arc Token Presale Ahead of L1 Launch
Circle boosted its FY2026 revenue guidance behind a $180 million presale of native tokens for its upcoming Arc Layer-1 blockchain. While core USDC circulating supply remains squeezed by the crypto market slowdown, a renewed Coinbase deal and incoming institutional adoption via BlackRock and DTCC provide structural support. The cash injection buys time as Circle pivots from yield dependence to chain infrastructure.
Circle posted $701 million in Q2 total revenue and reserve income, but the real storyline sits in its revised forward guidance. Management hiked FY2026 non-reserve revenue targets to $310-330 million, powered almost entirely by a $180 million presale of tokens for its new Layer-1 network, Arc.
Arc represents Circle's aggressive move to capture execution gas fees rather than relying strictly on treasury yields. Set to launch mainnet on September 16, the network features institutional heavyweights like BlackRock and DTCC as validators, turning USDC into Arc's native gas token.
Near-term fundamentals remain tested as USDC circulating supply continues to shrink in the quiet market. However, with the Coinbase yield-sharing deal renewed on stable terms and $180 million in presale cash, Circle has built a financial runway to weather the current lull until on-chain liquidity rebounds.