Circle: USDC circulation grows 19% and revenue rises to $701 million

Circle Internet Group has published its results for the second quarter of 2026, showing strong growth. The amount of USDC in circulation rose 19% year-on-year to $73.3 billion, while onchain transaction volume increased by 151% to $14.8 trillion. Total revenue and reserve income came to $701 million.

In brief:

• USDC in circulation grows 19% year-on-year to $73.3 billion in Q2 2026
• Onchain transaction volume rises 151% to $14.8 trillion
• Circle announces public mainnet launch of Arc on 16 September

Revenue and profit in focus

Circle’s combined revenue and reserve income grew 7% year-on-year in the second quarter of 2026, reaching $701 million. The company reports this in its official quarterly report to the SEC. Adjusted EBITDA came to $143 million, representing growth of 8% compared with the same period last year.

Net income from continuing operations was $48 million in Q2 2026. That is an improvement of $530 million compared with a year earlier. The jump is largely explained by one-off costs related to Circle’s stock market listing last year, in which share-based compensation took a heavy toll on the result.

USDC grows and Arc approaches launch

The amount of USDC actually in circulation stood at $73.3 billion at the end of the quarter. That is 19% more than in the same period last year. Even more striking is the growth in onchain transaction volume: it more than doubles, from a lower base, to $14.8 trillion, an increase of 151% year-on-year.

In addition to the financial results, Circle also shares an update on Arc, the new platform focused on programmable finance. Arc now counts more than 100 parties building on the network, including both institutional players and developers. Circle plans the public mainnet launch on 16 September, introducing a full product offering. That package includes privacy functionality, an agent stack for programmable finance and support for tokenised real-world assets.