Circle: First-half revenue reaches $1.4 billion, with nearly 60% spent on partners and transaction costs
On October 16, Circle announced that in the first half of 2026, USDC on-chain settlement volume exceeded $36 trillion. During the same period, Circle minted and redeemed more than $315 billion worth of USDC, averaging approximately $1.7 billion per day. The company said that as of June, USDC accounted for approximately 77% of global stablecoin trading volume, up from 60% a year earlier.
The market is paying closer attention to how USDC revenue is distributed. Circle disclosed that it generated approximately $1.4 billion in revenue in the first half of the year, of which approximately $819 million—about 59%—went to USDC distribution partners and transaction costs. A further approximately $473 million, or about 34%, was allocated to licensing, banking partnerships, settlement liquidity, compliance systems, product development, and multichain deployment. According to the figures in the announcement, Circle ultimately retains only about 7 cents in net profit for every dollar of revenue.