Circle’s USDC Transfer Volume Reaches $32 Trillion Amid Revenue Challenges
- Adjusted USDC transfer volume hit $32 trillion in 2026, with an annualized velocity of 741 times.
- Circle’s Q2 revenue totaled $701.3 million, with $667.7 million (95.2%) coming from reserve income.
- Onchain transaction volume for USDC rose by 151% year-over-year to $14.8 trillion.
- Transaction revenue for the same period was only $5.3 million.
- Circle plans to launch Arc, its blockchain infrastructure, on September 16, aiming to create a fee structure around USDC usage.
The substantial transfer volume indicates USDC’s integral role in the crypto ecosystem, yet Circle’s reliance on reserve income highlights a need for diversified revenue streams beyond interest rates.
With $32 trillion in adjusted transfer volume and only $5.3 million from transactions, Circle must prove that its upcoming Arc platform can generate sustainable fees from increased activity.(Source)
