Circle Reports Q2 Revenue of $701M as USDC Circulation Hits $73.3B, Up 19% YoY

According to BlockBeats, Circle reported on August 5 that USDC circulation reached $73.3 billion in the second quarter, up 19% year-over-year. The stablecoin recorded $14.8 trillion in on-chain transaction volume, up 151% YoY. Circle's Q2 total revenue and reserve income came to $701 million, up 7% YoY, with adjusted EBITDA of $143 million, up 8% YoY.

Circle announced that its Arc blockchain will launch on mainnet on September 16, with institutions including BlackRock, DTCC, Galaxy, Mastercard, and Visa serving as network validators. The company also received final approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish Circle National Trust, making it one of the first stablecoin issuers to receive a U.S. federal banking charter.