Circle
CRCL
Circle issues USDC and provides enterprise-grade digital payment infrastructure
Market Performance
Tokenized Assets
| Ticker | Exchange | Price | 24H | Spread | Liquidity ±2% | 24H Volume | OI | Funding | Max Leverage | Fees |
|---|
Revenue & Burn
Protocol income
$199.8MBuyback funds
--Burn funds
--Buyback ratio
--Protocol funds over time
Monthly amounts & ratios
| Period | Protocol income | Buyback funds | Burn funds | Buyback ratio |
|---|---|---|---|---|
| Sep 2026 | $199.8M | -- | -- | -- |
| Aug 2026 | $197.49M | -- | -- | -- |
| Jul 2026 | $199.82M | -- | -- | -- |
| Jun 2026 | $193.24M | -- | -- | -- |
| May 2026 | $202.12M | -- | -- | -- |
| Apr 2026 | $198.24M | -- | -- | -- |
Comparison
Team
Investment
Sub Organizations
Top Holders
| Address | Token | Quantity | 7d | Percentage | Value |
|---|---|---|---|---|---|
| 0x3730...7341 |   USDC | 4,308,245,766.21 | 261,428,134.22+6.46% | 5.79% | $4.3B |
| 0xe194...29b6 | USDC | 1,699,999,999.03 | -- | 2.28% | $1.69B |
| 0xffa6...5a5e | USDC | 1,582,999,999.86 | -- | 2.13% | $1.58B |
Open Markets
| # | Exchange | Pair | Price | +2% depth | -2% depth | Volume (24h) | volume % |
|---|---|---|---|---|---|---|---|
| 1 | BBinanceCEX | USDC/USDT | $0.9999 | $29,984,064 | $21,071,902 | $1,257,115,487 | 21.19% |
| 2 | 44E GlobalDEX | USDC/USDT | $0.9999 | $29,984,287 | $20,521,983 | $621,910,614 | 10.49% |
| 3 | WWEEXDEX | USDC/USDT | $0.9999 | $44,090,895 | $38,017,794 | $296,731,385 | 5.00% |
| 4 | OOKXCEX | USDC/USDT | $1 | $9,201,197 | $6,523,429 | $296,618,075 | 5.00% |
| 5 | XDP/USDC | $0.9999 | -- | -- | $199,202,651 | 3.36% | |
| 6 | BBinanceCEX | BTC/USDC | $1 | $5,050,852 | $8,773,674 | $120,994,864 | 2.04% |
| 7 | WWEEXDEX | BTC/USDC | $0.9999 | $6,297,566 | $5,241,309 | $120,552,603 | 2.03% |
| 8 | TTapbitDEX | USDC/USDT | $0.9999 | $588,275 | $665,060 | $116,443,732 | 1.96% |
| 9 | OOrangeXDEX | USDC/USDT | $1 | $19,910,384 | $30,175,999 | $114,015,141 | 1.92% |
| 10 | BBullishDEX | BTC/USDC | $0.9999 | $17,638,786 | $20,602,376 | $77,816,459 | 1.31% |
Follow Updates
Follow Lists
People
About Circle
Circle is the issuer of USDC, the second-largest USD stablecoin. Its core business includes stablecoin issuance, the Circle Payments Network (CPN) for institutional settlement, and the upcoming Arc blockchain for stablecoin-native applications.
Its primary competitive advantage is regulatory compliance. In Q2 2026, Circle received approval from the OCC to establish Circle National Trust, becoming one of the first stablecoin issuers with a US federal trust bank charter. It also obtained a NYDFS license for Circle New York Trust.
Circle addresses the pain point of slow and costly cross-border payments. USDC enables near-instant, low-fee transactions globally, and CPN had reached $14.7 billion in annualized transaction volume with 175 connected financial institutions by end of Q2 2026.
In the past six months (Feb-Aug 2026), Circle's Q2 revenue was $701 million, up 7% year-over-year but slightly below expectations. USDC circulation stood at $73.3 billion at quarter-end, up 19% year-over-year but down 4.8% from the prior quarter. Market share in USD stablecoins slipped 66 basis points to 27%. The company announced Arc mainnet launch for September 16, 2026, with validators including BlackRock, Visa, and Mastercard, and BlackRock's BUIDL fund deploying on the network. Adjusted operating expenses rose 23% year-over-year, reflecting continued investment in infrastructure and AI capabilities.
Circle (USDC issuer) has reached several milestones with long-term significance:
Circle obtained a limited purpose trust license from the New York State Department of Financial Services (NYDFS), further strengthening USDC's regulatory foundation and cementing its compliance leadership in the stablecoin sector.
Circle's subsidiary, First National Digital Currency Bank, received approval from the Office of the Comptroller of the Currency (OCC) to establish a national trust bank, marking Circle's institutional upgrade from state-level to federal regulation. This brought USDC and its digital asset custody infrastructure under the federal banking regulatory framework.
Circle's euro stablecoin EURC surpassed 400 million euros in circulation, becoming a key component of Europe's on-chain payment infrastructure and reflecting Circle's diversified global stablecoin strategy.
Circle open-sourced the Agent Stack launch kit, enabling mainstream AI Agent frameworks to integrate with USDC and on-chain functionality. This advances autonomous AI agent payments and lays the groundwork for stablecoin applications in the AI era.
Circle's Q2 FY2026 revenue and reserve income reached $701M (+7% YoY), slightly missing consensus of $713M. Net income from continuing operations was $48M, up $530M YoY, primarily due to lower stock-based compensation following the IPO. Adjusted EBITDA was $143M (+8% YoY). USDC circulation averaged $73.3B (+25% YoY), but reserve yields fell 66bps to 3.5%, limiting revenue growth. The company raised its FY2026 guidance for other revenue and RLDC margin, partly driven by non-recurring Arc token presale income. Performance was mixed: USDC scale expanded strongly, but profitability remains sensitive to interest rates, and the network has yet to demonstrate sustainable fee-based monetization.
Bullish: Q2 USDC circulation $73.3B, +19% YoY; OCC federal trust bank charter; Arc mainnet launches Sept 16 with BlackRock, Visa and 11 founding validators; CPN annualized volume $14.7B, +76% QoQ; other revenue guidance raised to $310-330M.
Bearish: Reserve income +5% YoY as yield fell 66bps, revenue tied to rates; fiat-backed stablecoin share dropped to 27%; Arc token presale ~$180M one-time, inflating guidance; competitive pressure from Open USD etc.
Circle (USDC issuer) recent team changes:
Onboarding: Renaud Besnard joined in May 2026 as Vice President of Growth. He previously served as VP at Uniswap Labs (Marketing, PR, Ecosystem BD, Customer Experience & International Expansion) and held senior growth roles at PayPal, Twitter, and Uber. Sharif Elfouly joined in August 2026 as an Engineer, focusing on the x402 protocol and agentic commerce infrastructure to drive AI agent payments and USDC integration.
Departure: Rachel Busch left in July 2026, having served as Senior Manager of Corporate Communications since October 2021.