Circle said in an Oct. 16 announcement that USDC recorded more than $36 trillion in on-chain settlement volume in the first half of 2026. Over the same period, the amount of USDC minted and redeemed exceeded $315 billion, averaging about $1.7 billion per day.
USDC share of stablecoin transaction volume reached about 77%
According to Circle, USDC accounted for about 77% of global stablecoin transaction volume as of June, up from 60% a year earlier.
Nearly 60% of first-half revenue went to partners and transaction costs
Circle disclosed that it generated about $1.4 billion in revenue in the first half. Of that total, about $819 million, or roughly 59%, went to USDC distribution partners and transaction costs. Another roughly $473 million, or about 34%, was allocated to licenses, banking partnerships, settlement liquidity, compliance systems, product development and multichain deployment.
Under the company’s stated presentation in the announcement, Circle kept only about $0.07 in net profit for every $1 of revenue.
The disclosure may have been intended to address market criticism that stablecoin issuers exclusively capture reserve income. Circle said partners can share in related reserve income by holding and expanding USDC balances on their own platforms. It added that more than 150 exchanges, wallets, banks, fintech companies, payment platforms and enterprises are now economically tied to USDC growth.
Binance agreement and investment
Circle also said Binance signed a five-year commercial agreement with the company in September and invested $100 million in Circle.
Circle expands free redemption options
On the product side, Circle said all Circle customers will continue to be able to redeem USDC for free through traditional banking rails, with funds typically arriving within two business days. Eligible customers making payments through Circle Payments Network, or using products including Arc, Circle Mint and Circle Wallets, will be able to access free, near-instant redemption.