Circle reported $701 million in Q2 revenue as USDC reached $73.3 billion in circulation & its Arc blockchain prepares for a 16 Sept public mainnet launch.
Circle, the issuer of USDC Stablecoin, has reported $701 million in quarter two revenue and reserve income, as USDC circulation rose to $73.3 billion. Circle also confirmed that its Arc blockchain will launch its public mainnet on 16 September, marking another step in its push toward institutional blockchain adoption.
Circle released its Q2 2026 earnings, reporting $701 million in total revenue and reserve income, up 7% from a year ago. Adjusted EBITDA rose 8% to $143 million, while net income reached $48 million.
The biggest driver remained USDC, which ended the quarter with $73.3 billion in circulation, a 19% increase from last year. At the same time, USDC processed $14.8 trillion in on-chain transaction volume during the quarter, up 151% year over year.
However, compared with the previous quarter, USDC circulation declined from $77 billion as crypto market activity slowed and interest rates remained lower. Earnings per share also fell from $0.21 to $0.18.
Circle CEO Jeremy Allaire said, "Our quarterly financial results reflect the current rate environment and a crypto market that has slowed."
Further adding that the company's long-term growth strategy remains focused on stablecoins, tokenization, and blockchain infrastructure.
Alongside its earnings, Circle confirmed that Arc will officially launch its public mainnet on Sept. 16.
The blockchain already has more than 100 ecosystem and institutional builders developing applications before launch. Circle said Arc will support privacy features, programmable finance, and tokenized real-world assets (RWAs) from day one.
Circle also introduced the first group of third-party validators that will help secure the network. The list includes several global financial companies, including BlackRock, DTCC, Galaxy, Global Payments, ICE, Mastercard, MoneyGram, SBI Group, Standard Chartered, Sumitomo Corporation, and Visa.
Unlike many public blockchains, Arc is designed mainly for institutional finance, allowing banks and financial firms to issue, settle, and manage digital assets on regulated blockchain infrastructure.
Circle is expanding well beyond stablecoins. The company said several large financial institutions are already preparing products on Arc.
BlackRock plans to deploy its BUIDL tokenized money market fund on the network, while DTCC intends to support tokenization of assets held through the Depository Trust Company.
BNY and Standard Chartered are also building services around USDC custody, settlement, and tokenized assets. These partnerships show that tokenization is moving from pilot projects toward real financial products used by traditional institutions.
Circle also announced several new partnerships that expand USDC's global use.
Grupo Bind will bring USDC services to financial institutions in Argentina, while JCB is working with Circle to support cross-border treasury payments and merchant payments in Japan. Kakao Group has started exploring USDC integration for blockchain payments in South Korea.
Meanwhile, global payments company Nium has connected USDC settlement to its payment network covering more than 190 countries, allowing businesses to move funds globally while settling in local currencies.
Circle also received final approval to establish Circle National Trust, making it one of the first stablecoin issuers to receive a U.S. federal trust bank charter. The approval allows the company to offer federally regulated digital asset custody and could eventually allow Circle to manage USDC reserves directly.
While USDC remains Circle's largest business, the company's latest results show it is building a broader digital finance platform.
Its Circle Payments Network (CPN) reached $14.7 billion in annualized transaction volume while the number of participating financial institutions grew to 175, up 29% from the previous quarter. Circle's Agent Stack, designed for AI-powered payments, now supports more than 900 paid services, with 99.3% of agent payment volume settling in USDC.
With a growing stablecoin business, expanding institutional partnerships, and the launch of Arc just weeks away, Circle is positioning itself as more than a stablecoin issuer.
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