Circle generated approximately $1.4 billion in revenue during the first half of 2026, with the majority of its reported revenue allocated to USDC distribution partners and transaction costs, according to information shared by Wu Blockchain. The figures highlight the costs associated with distributing the stablecoin and operating Circle's broader payments and financial infrastructure.
Circle disclosed that $819 million, or 59% of its revenue, went toward USDC distribution partners and transaction costs. A further $473 million, representing 34%, was spent on licensing, banking relationships, settlement liquidity, compliance and product development. The company reported that approximately 7% remained as net profit.
USDC Distribution and Operating Costs
USDC distribution partners and transaction costs represented the largest reported expense category in Circle's first-half figures. The $819 million allocation accounted for 59% of the approximately $1.4 billion in revenue generated during the period.
Another $473 million covered several areas of the company's operations, including licensing, banking relationships, settlement liquidity, compliance and product development. Together, these reported allocations illustrate how Circle distributes its revenue across partner-related costs and the infrastructure required to support its services.
Circle's reported figures also indicate that approximately 7% of revenue remained as net profit. The company did not provide further breakdowns in the information shared by Wu Blockchain, so the figures alone do not establish how individual expense categories changed over time.
Circle Expands Access to USDC Redemptions
Alongside its financial disclosure, Circle stated that customers using the Circle Payments Network (CPN), as well as eligible Circle Platform customers, can now access free, near-real-time USDC redemptions around the clock.
The service provides eligible customers with access to USDC redemptions at any time, without redemption fees under the announced offering. Circle's statement specifically identifies CPN users and eligible Circle Platform customers as the groups able to access the service.
The announcement does not specify additional eligibility requirements or provide further operational details in the information reported by Wu Blockchain. The stated offering is therefore limited to the customer groups and redemption terms identified by Circle.
USDC Records More Than $36 Trillion in On-Chain Volume
Circle also reported that USDC recorded more than $36 trillion in on-chain transaction volume during the first half of 2026. According to the company, USDC accounted for approximately 77% of global stablecoin transaction volume in June.
The figures cover two distinct measurements: USDC's cumulative on-chain transaction volume over the first six months of 2026 and its reported share of global stablecoin transaction volume in June. The $36 trillion figure refers to transaction volume rather markets than revenue, profit or the total value of USDC in circulation.
Circle's reported data places USDC's transaction activity alongside its first-half financial results and the expanded redemption access announced for eligible customers. The company reported approximately $1.4 billion in revenue, with $819 million allocated to USDC distribution partners and transaction costs and $473 million spent across other specified operating areas.
Writer: Victoria HaleTechnology & Blockchain WriterVictoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.She prioritises clarity and accuracy when explaining technical developments to a general audience.
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