Circle reports $14 trillion-plus in USDC activity as volume grows 151%

Circle says more than $14 trillion has moved through stablecoins over the past year, a growth rate of 151%. The company’s own USDC numbers are the main driver of that figure. The numbers behind the headline figure Circle Internet Group, the issuer of USDC, released its second-quarter 2026 earnings in early August. The disclosure put USDC on-chain transaction volume at $14.8 trillion, up 151% year over year. Daily on-chain volume averaged $163 billion. Supply grew too, though more slowly. As of June 30, 2026, USDC in circulation stood at $73.3 billion, up 19% from a year earlier. USDC is estimated to have processed around $32 trillion in adjusted transfers through August, which suggests it holds a dominant share of stablecoin transfer volume in 2026. Where the money actually comes from Total revenue and reserve income for the quarter came to $701.3 million, up 7% year over year. Net income was $48 million, and adjusted EBITDA reached $143 million, an 8% increase. About 95% of revenue, roughly $667.7 million, was interest income on the reserves backing USDC. Those reserves sit mostly in US Treasuries and cash equivalents. Transaction revenue was only about $5.3 million. Circle’s resu...