USDC Revenue: Where Does Every Dollar Actually Go?
Circle's latest explanation of USDC revenue gives the market a clearer view of how stablecoin economics look after distribution and operating costs are included. During the first half of 2026, Circle said it generated approximately $1.4 billion in revenue and reserve income. Around $819 million went to distribution partners and transaction costs, while another $473 million supported licenses, banking relationships, settlement liquidity, compliance, product development and blockchain integrations. Circle said roughly seven cents of every revenue dollar ultimately remained as net profit











