Circle's Revenue Surges 7% as USDC Circulation Hits Record High

Circle's second-quarter earnings report shows a revenue increase of 7% to $701 million, driven by USDC growth and expanding circulation. The company's USDC stablecoin reached a circulation of $73.3 billion in Q2, up 19% from the same period last year. Onchain transaction volume surged 151% to $14.8 trillion during the quarter.

The launch of Arc mainnet on September 16 is expected to further boost Circle's institutional strategy. With over 100 institutions and ecosystem developers building products for the platform, Arc aims to provide privacy and programmable finance tools, as well as support tokenized real-world assets and agent-based payment services.

Circle has secured federal and New York trust approvals for digital asset services, which will support future custody services and potential management of USDC reserves. The company's payments network reached $14.7 billion in annualized transaction volume by quarter end, with enrolled institutions rising 29% to 175.