Circle Unveils BlackRock, Visa, ICE Among Launch Partners As Arc Blockchain Targets Institutional Finance

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August 5, 2026

Circle on Wednesday unveiled the first group of institutions that will help operate Arc, its new blockchain network designed to accelerate digital payments and tokenized financial transactions, marking one of the industry’s strongest pushes yet to bridge traditional finance with blockchain infrastructure.

The network, scheduled for a public launch on September 16, will initially be operated by a group of major financial institutions and payment companies, including BlackRock, Intercontinental Exchange, Visa, Mastercard, Depository Trust & Clearing Corporation, Galaxy, Global Payments, MoneyGram, SBI Holdings, Standard Chartered and Sumitomo Corporation.

The breadth of the initial validator group highlights growing institutional acceptance of blockchain-based financial infrastructure, particularly as banks, exchanges and payment companies expand investments in tokenized assets and stablecoin-powered settlement systems.

The launch partners will serve as blockchain validators, verifying transactions, maintaining network security and adding new blocks to the distributed ledger.

Circle Chief Executive Officer Jeremy Allaire said the network is being designed as a decentralized financial infrastructure that will gradually expand beyond its initial group of operators.

“ARC is being built as a distributed network that is operated initially by roughly 10 to 12 major players, but that will expand over time,” Allaire told CNBC.

“The number of operators that will support running this network could grow to as many as 20 or 40 over time and each participant will become part of a staking infrastructure where eventually ARC token holders will be able to stake and vote for key components of the way the infrastructure evolves.”

He added that Circle ultimately intends to establish a distributed governance model in which decision-making authority is shared across network participants rather than concentrated within the company.

Known primarily as the issuer of the USDC stablecoin, Circle said Arc is being developed as foundational infrastructure for what it describes as the agentic economy, where artificial intelligence agents, businesses and financial applications increasingly transact autonomously using blockchain technology.

Rather than functioning solely as another cryptocurrency network, Arc is intended to serve as an operating system for digital financial services, enabling businesses to build payment applications, tokenized asset platforms and settlement systems using stablecoins and blockchain-based infrastructure.

The network is currently operating in a limited-access phase involving approximately 100 selected partners ahead of its public launch.

Major Financial Integrations Planned

Alongside the validator announcement, Circle revealed several strategic integrations aimed at bringing traditional financial products onto the blockchain.

BlackRock plans to deploy its tokenized money market fund, BUIDL, on Arc, allowing institutional investors to subscribe to, redeem, and utilize fund assets directly through the network using USDC. The integration is designed to simplify access to tokenized investment products while reducing operational friction.

Circle is also collaborating with DTCC, the primary clearing and settlement infrastructure for U.S. equity and fixed-income markets, to support tokenized versions of traditional financial assets. The companies expect to begin introducing tokenized securities onto Arc during the second half of 2027, enabling financial institutions to settle transactions using stablecoins while maintaining links to existing market infrastructure.

Additional integrations involving BNY and Standard Chartered will focus on digital asset custody, foreign exchange infrastructure, repurchase agreement (repo) markets and stablecoin-based settlement.

Token Economics Prioritize Ecosystem Growth

Circle disclosed that the Arc network will launch with a total supply of 10 billion ARC tokens. The company will retain 25% of the initial token supply, allowing it to operate validator infrastructure while generating staking rewards and transaction-related revenue.

The majority, 60%, will be allocated to developers, users, and ecosystem participants building applications and contributing to network growth, while the remaining 15% will be reserved for long-term strategic purposes.

The industry is increasingly shifting toward incentivizing developer activity and network adoption rather than concentrating ownership among founding organizations.

However, Arc enters a competitive market as financial institutions accelerate efforts to modernize capital markets using blockchain technology.

Tokenized money market funds, stablecoin settlement and blockchain-based securities trading have gained momentum over the past two years, driven by growing institutional demand for faster settlement, lower transaction costs and continuous market availability.

By bringing together global asset managers, payment networks, exchanges and banking institutions at launch, Circle is positioning Arc as enterprise-grade infrastructure rather than a consumer-focused blockchain.

The network’s long-term success, however, is likely to depend less on the number of high-profile partnerships than on whether developers build applications, institutions migrate transaction activity onto the platform and transaction volumes grow after the public launch. As Allaire noted, meaningful adoption will ultimately be measured by active users, application development and the volume and velocity of transactions processed across the network.

Yellow Card Secures $40 Million Strategic Funding to Expand Global USD Accounts And Stablecoin Infrastructure

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Ojukwu Emmanuel

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August 5, 2026

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Yellow Card a leading global stablecoin infrastructure provider, has announced the successful closing of a $40 million strategic funding round.

The round was backed by SC Ventures, the innovation and investment arm of Standard Chartered, Sony Innovation Fund, Polychain Capital, Blockchain Capital, and other strategic investors.

The latest investment brings Yellow Card’s total equity financing to more than $120 million. According to the stablecoin infrastructure provider, the new capital will be used to scale its Global USD Accounts, a dollar account solution for businesses, and to expand the stablecoin payment rails connecting the platform to markets worldwide.

The company also plans to strengthen its presence in Latin America and the Asia-Pacific region, building on its established footprint across Africa.

Speaking on the funding round, CEO and Co-founder of Yellow Card Chris Maurice said,

“This investment is a vote of confidence in what we’ve spent years building: the infrastructure that lets global businesses move money without traditional correspondent banking. But the bigger opportunity now is connecting banks themselves to stablecoin rails.

“When institutions plug into this infrastructure, they’re not just modernizing payments, they’re unlocking dollar access for millions of businesses that traditional correspondent banking has left behind. Money should move at the speed and convenience of the internet, and increasingly, banks want to move with it”.

The financing will help deliver Global USD Accounts to more businesses, giving them a single account to hold U.S. dollars, hold and swap stablecoins, manage treasury, and collect and disburse local currencies on domestic rails in over 50 countries.

The stablecoin market has grown significantly in recent years, with its total market capitalization surpassing $300 billion in 2026. The sector has also become one of the most active segments of the digital asset industry, processing trillions of dollars in annual transaction volume as businesses, financial institutions, and consumers adopt blockchain-based payment solutions.

The technology is proving especially valuable for cross-border trade, remittances, treasury management, and supplier payments. Businesses can receive dollar-denominated payments without maintaining U.S. bank accounts, while importers and exporters can reduce foreign-exchange risk by transacting in digital dollars.

Founded by Chris Maurice (CEO) and Justin Poiroux, YellowCard is the largest licensed Stablecoin-based infrastructure provider for emerging markets.

From Stablecoin payment infrastructure to fiat settlement rails, custody wallet services, and custom local Stablecoin issuance, the company provides the complete infrastructure businesses need to manage Stablecoins, payments, and operations across emerging markets.

In June this year, YellowCard was named to the inaugural Fortune Crypto Innovators list, published alongside the Fortune Crypto 100, cementing its place among the world’s leading digital asset innovators.

To date, the company has facilitated over $10 billion in transactions across its network. The company supports more than 50 currencies and holds relevant licenses, authorizations, and registrations in 22 jurisdictions across North America, Europe, and Africa.

Strategic partnerships with Visa, Mastercard, PayPal, and Coinbase have positioned the company as an infrastructure layer for global payments players.

The funding is expected to accelerate the next phase of the company’s growth by connecting more banks, fintechs, and enterprises to its stablecoin infrastructure, broadening access to dollar-denominated financial services beyond traditional institutions.

Yellow Card’s latest funding comes at a time when stablecoins are rapidly moving from a niche crypto product to a core component of global financial infrastructure.

As regulators in major markets introduce clearer frameworks for digital assets and financial institutions increasingly embrace blockchain-based settlement, demand for enterprise-grade stablecoin infrastructure is expected to accelerate.

Qantas to Exit Jetstar Japan in $52m Deal, Clearing Path for Local Ownership and Brand Overhaul

By

Samuel Nwite

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August 5, 2026

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Australian carrier to book A$115 million gain as Jetstar Japan prepares to drop Jetstar name and sharpen focus on Japan’s competitive low-cost aviation market

Qantas Airways will exit Jetstar Japan after agreeing to sell its 33.32% stake in the budget airline through an 8.2 billion yen ($52.11 million) share buyback, marking the end of the Australian carrier’s ownership in the venture and paving the way for the airline to become fully Japanese-owned under a new brand.

The transaction, announced on Tuesday, was agreed by Qantas, Japan Airlines and the venture’s other shareholders. Under the arrangement, Jetstar Japan will repurchase Qantas’ minority stake, while the Development Bank of Japan will join the carrier as a new shareholder. Japan Airlines and Tokyo Century will retain their existing stakes.

Following Qantas’ exit, the airline will rebrand, dropping the “Jetstar” name as it seeks to strengthen its position in Japan’s highly competitive low-cost aviation market.

The move marks a strategic shift for Qantas, which has focused on deploying capital toward its core Australian operations and expanding its international network rather than maintaining minority investments in overseas affiliates.

“Divesting our stake in Jetstar Japan enables us to redirect capital toward opportunities across the Qantas Group while maintaining our focus on delivering long-term shareholder value,” the company said.

Qantas expects the share buyback to generate an estimated gain of about A$115 million ($80.49 million), which will be recognized outside underlying earnings, with the bulk of the benefit expected in the 2027 financial year.

The airline added that it will continue to recognize its share of Jetstar Japan’s profits or losses until the transaction is completed, which is expected by June 2027.

The deal follows a non-binding memorandum of understanding signed by the parties in February 2026 and represents the culmination of months of discussions over the airline’s future ownership structure.

Jetstar Japan was established more than a decade ago by Qantas, Japan Airlines and Mitsubishi Corporation as part of Qantas’ broader strategy to replicate the success of its Jetstar low-cost model across Asia. The carrier commenced operations from Tokyo’s Narita Airport in 2012, targeting Japan’s growing demand for affordable domestic and short-haul international air travel.

While Jetstar Japan has established itself as one of the country’s leading budget airlines, the Japanese low-cost aviation market remains intensely competitive. Operators such as Peach Aviation, Spring Japan and Skymark Airlines continue to compete aggressively on fares and network expansion, while full-service airlines have also increased their focus on value-conscious travelers.

The rebranding is expected to give the airline greater flexibility to position itself as a domestically focused Japanese carrier while retaining operational support from its local shareholders. Removing the Jetstar brand will also complete the transition away from foreign ownership and align the airline more closely with its predominantly Japanese shareholder base.

For Qantas, the divestment forms part of a broader portfolio optimization strategy aimed at concentrating investment in businesses where it exercises greater operational control. The airline has been investing heavily in fleet renewal, premium cabin upgrades and its long-haul international expansion, while its Australian Jetstar business remains central to the group’s dual-brand strategy.

The transaction is also expected to simplify Qantas’ international investment portfolio, allowing management to allocate capital toward projects with higher strategic returns as global travel demand continues to recover and airlines invest in newer, more fuel-efficient aircraft.

Investors appeared to take the announcement in stride. Qantas shares initially rose as much as 1.7% following the news before surrendering those gains to trade broadly flat, suggesting the market had largely anticipated the divestment after the memorandum of understanding was announced earlier this year.

Once completed, the transaction will end more than 14 years of Qantas’ ownership in Jetstar Japan, while opening a new chapter for the airline under Japanese ownership and a new corporate identity.

Aramco Q2 Profit Jumps 33%, Beating Expectations As Iran War Boosts Oil Prices

By

Samuel Nwite

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August 5, 2026

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Saudi Aramco reported a sharp increase in second-quarter profit on Tuesday, beating analyst expectations as elevated oil prices and refining margins during the U.S.-Iran conflict offset lower sales volumes, and underscored the resilience of Saudi Arabia’s export infrastructure amid one of the biggest supply disruptions in oil market history.

The world’s largest oil producer posted adjusted net income of 125.2 billion Saudi riyals ($33.4 billion) for the three months ended June, a 33% increase from a year earlier and ahead of analysts’ expectations of $31.59 billion.

The strong earnings extend a wave of exceptional quarterly results across the global energy industry, with major producers benefiting from a surge in crude prices following more than five months of conflict between the United States and Iran that has disrupted energy flows across the Middle East.

East-West Pipeline Keeps Exports Flowing

A key factor behind Aramco’s performance was its ability to maintain exports despite repeated disruptions in the Strait of Hormuz, the world’s most important oil shipping corridor.

The company said it continued to rely on its 1,200-kilometer (746-mile) East-West Pipeline, which transports crude from Saudi Arabia’s eastern oil fields to export terminals on the Red Sea, allowing shipments to bypass the Strait of Hormuz.

The pipeline enabled Aramco to sustain exports at a maximum capacity of 7 million barrels per day, preserving supply to international customers even as attacks on commercial shipping and military tensions disrupted traffic through the Gulf.

“Despite the unprecedented supply disruption through the Strait of Hormuz, we continued to demonstrate our ability to maintain business continuity by capitalizing on our diverse asset base and multi-decade planning, including strategic infrastructure such as the East-West Pipeline, storage capacity, and export terminals,” President and CEO Amin H. Nasser said.

“That enabled us to sustain production and exports while advancing key projects, despite the challenging regional environment.”

Aramco said stronger crude oil, refined product and petrochemical prices were the primary drivers of revenue growth during the quarter. Those gains were partly offset by lower sales volumes of crude oil and refined products, reflecting production disruptions and tighter global supplies.

Elevated commodity prices have more than compensated major producers for lower output during the conflict, allowing profitability to improve even as physical exports remain below normal levels. Cash flow from operating activities reached $25.4 billion during the quarter, providing continued financial flexibility despite the volatile operating environment.

The company also reported its gearing ratio increased to 6.2% at the end of June from 4.8% three months earlier. Aramco’s board approved a second-quarter base dividend of $21.9 billion, cementing its position as one of the world’s largest dividend-paying companies.

Speaking during a conference call with analysts, Nasser warned that the conflict has created what he described as the largest supply disruption ever experienced by the global oil market. According to the chief executive, more than 2.6 billion barrels of oil originally destined for industries including agriculture, automotive manufacturing, semiconductors and chemicals have been removed from global supply chains since the conflict began.

He said Aramco’s pipeline network and strategic inventories have helped reduce the effective supply shortfall to roughly 1.8 billion barrels. Even if shipping through the Strait of Hormuz resumed immediately, Nasser estimated it would take approximately 18 months to replenish depleted global inventories at an average rate of 2.1 million barrels per day.

This suggests that the impact of the conflict could continue to influence oil markets well beyond any eventual ceasefire, with inventory rebuilding likely to support prices over an extended period.

Aramco’s results mirror strong earnings reported by other major oil companies, owing to the sustained increase in energy prices during the Middle East conflict.

In the United States, Exxon Mobil reported second-quarter profit of $14.5 billion, more than double the level recorded a year earlier.

Chevron posted earnings of $12 billion, nearly four times higher than the $2.5 billion earned in the corresponding period last year.

The exceptional profitability across the sector was spurred by higher benchmark crude prices, wider refining margins and elevated trading opportunities created by volatile energy markets.

Trump Criticizes Oil Industry Profits

The strong financial performance has drawn criticism from President Donald Trump, who accused U.S. oil producers of benefiting excessively from higher fuel prices.

“They’re making too much money based on a shortage,” Trump told reporters at the White House on Monday.

“I don’t like it.”

This reveals growing political sensitivity around energy prices, particularly as elevated gasoline costs continue to influence inflation and household spending. Trump has repeatedly called for lower fuel prices while simultaneously urging producers to maintain adequate supplies during the geopolitical crisis.

Moove Raises $250 Million at $2.1 Billion Valuation to Expand Autonomous Mobility Infrastructure

By

Ojukwu Emmanuel

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August 5, 2026

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Mobility infrastructure company Moove has raised $250 million in a Series C funding round, achieving a valuation of $2.1 billion as it accelerates the next phase of its autonomous mobility ambitions.

The funding round was led by Mubadala and co-led by Woven by Toyota and Ion Pacific. The fresh capital will be used to expand Moove’s autonomous vehicle operations into new markets across the globe.

According to the company, the new funding will accelerate the growth of its autonomous vehicle business, including autonomous fleet ownership and the development of its robotics-first depot infrastructure known as “Nests.”

These facilities are designed to charge, service, maintain, and coordinate autonomous fleets for continuous operations. The investment will also support new international market launches.

Speaking on the funding round, Ladi Delano, Co-Founder, Co-CEO and Advisory Board Chairman of Moove, said,

“Every major technology revolution becomes an infrastructure race. The internet required data centres. AI required compute. Autonomy requires fleets, charging, maintenance, data systems and 24/7 operations in every city – and that is what Moove is building. In our view, as autonomy scales, infrastructure ownership and operations will define the category leaders. We are building to be one of them.”

Moove described the latest investment as the beginning of a new chapter in its mission to build the infrastructure powering the future of global autonomous mobility.

The funding marks another major milestone for the company, which has grown significantly since launching in Lagos with 76 vehicles in 2020. Today, Moove operates approximately 42,000 vehicles across 29 cities worldwide and employs about 3,300 people globally.

The company said that while autonomous driving technology continues to advance rapidly, building safe and reliable transportation networks at scale requires far more than self-driving software.

It involves developing the supporting infrastructure, including vehicle fleets, charging systems, maintenance facilities, purpose-built depots, and around-the-clock fleet operations. Moove said it is focused on building that infrastructure.

Through its partnership with Waymo, Moove has become one of the leading third-party autonomous fleet operators, with live operations in Phoenix and Miami, while future deployments are planned for London.

Founded in 2019 by Ladi Delano and Jide Odunsi, Moove launched operations in Lagos, Nigeria, before expanding globally. Unlike traditional auto lenders that rely on credit history, Moove uses a revenue-based financing model. It analyzes a driver’s earnings from ride-hailing or delivery platforms to determine eligibility for vehicle financing.

This enables drivers with little or no formal credit history to acquire vehicles and repay loans through a percentage of their weekly earnings.

Since its founding, the company has built the capital, fleet and operations platform required to deploy and manage productive human-driven ride-hail mobility assets at scale.

The company finances and owns mobility assets across global markets, powering the world’s leading platforms to scale efficiently and reliably.

Today, it employs 3,300 people globally and operates approximately 42,000 vehicles across 29 cities in 13 countries, making it one of the largest ride-hailing fleets in the world.

Notably, Moove has expanded through a combination of organic growth and strategic acquisitions, including Kovi in Brazil and Tokyo Taxi in Japan, and has grown to $420 million ARR.

Through its autonomous mobility business, the company is extending the operating model it has built over the past five years for human-driven mobility into next-generation AV systems.

From its roots in Lagos, Moove has evolved from a vehicle financing startup into a global mobility infrastructure company, helping shape the future of both human-driven and autonomous transportation.