Circle's Q2 Revenue Hits $701M as USDC Transaction Volume Surges

Circle Internet Group reported its Q2 2026 financial results on August 5. The company generated $701 million in total revenue and reserve income, a 7% increase year-over-year.

The growth was driven by an expansion of the USDC stablecoin's usage, with onchain transaction volume reaching $14.8 trillion, up 151% from Q2 2025. The figure is significant because it implies each dollar of USDC is changing hands more often than last year, demonstrating its increasing role as a settlement instrument.

Circle also saw an increase in net income to $48 million, compared to a loss of -$482 million in the same period last year. This swing was largely due to lower stock-based compensation expenses following the company's IPO in Q2 2025.