- Circle allocated 59% of its first-half revenue to distribution partners and transaction costs, 34% to operations, and retained roughly 7% as net profit.
- USDC processed over $36 trillion in onchain transactions, accounted for 77% of global stablecoin transaction volume, and surpassed $315 billion in minting and redemptions.
- Circle supports USDC across more than 35 blockchains, with over 55 licenses and registrations and partnerships spanning banks, exchanges, and payment networks.
Circle generated approximately $1.4 billion in revenue during the first half of 2026, directing 59% toward USDC distribution partners and transaction costs. The company spent another 34% on operating infrastructure, licensing, compliance and product development, leaving roughly 7% as net profit. Meanwhile, USDC processed more than $36 trillion in onchain transaction volume.
Circle Allocates Most Revenue to Partners and Infrastructure
According to Circle, $819 million of its first-half revenue went to distribution partners and transaction costs. Another $473 million funded licensing, banking relationships, settlement liquidity, compliance programs, blockchain integrations and product development.
Circle said these investments support USDC’s availability across wallets, exchanges, banks, fintech companies, enterprises and payment networks. The company also reported minting and redeeming more than $315 billion in USDC during the six-month period, averaging approximately $1.7 billion daily.
By June, USDC accounted for roughly 77% of global stablecoin transaction volume, compared with 60% a year earlier. Circle attributed its activity to its network of partners and infrastructure supporting payments and settlement.
Free Redemptions Expand Across Eligible Customers
Circle said customers using its Circle Payments Network and eligible Circle Platform customers can now redeem USDC for free, with near-real-time settlement available 24 hours daily, year-round.
Previously, standard banking redemptions were free but could take up to two business days. Circle said near-real-time settlement requires cash held across banking partners, allowing funds to move when redemptions receive onchain confirmation.
The company reported redeeming $71.8 billion in USDC during the first quarter of 2026. Combined minting and redemption volume reached $170 billion in the second quarter, up 105% year over year.
Circle Cites Global Reach and Regulatory Infrastructure
Circle said it holds more than 55 licenses and registrations, maintains relationships with over 25 partner banks, and supports native USDC deployments across more than 35 blockchains. Its reserves include holdings in a government money market fund managed by BlackRock and custody services from BNY, alongside monthly attestations.
The company also reported operating compliance and sanctions programs across 185 countries. Coinbase, its largest and longest-standing partner, reported average USDC balances of $20 billion across its products during the second quarter, up 44% year over year.
In September, Binance signed a five-year commercial agreement with Circle and invested $100 million. Circle said more than 150 other partners also have economic interests in USDC’s growth.
