Circle discloses USDC economics: $819M of $1.4B revenue went to distribution partners
- —Circle's H1 2026 revenue was about $1.4 billion
- —$819 million (59%) went to USDC distribution partners and trading costs
- —$473 million (34%) covered licences, liquidity and infrastructure
- —Onchain USDC settlement topped $36 trillion; in June it accounted for about 77% of global stablecoin volume
Why it matters: The disclosure shows how dependent USDC's economics are on exchanges and intermediaries, and answers criticism from newer stablecoin issuers.
Source: PANews