Circle generated approximately $1.4 billion in revenue during the first half of 2026, with $819 million, or 59%, paid to USDC distribution partners and transaction costs. The company allocated $473 million, representing 34% of revenue, to infrastructure investments including licensing and liquidity, resulting in a net profit margin of roughly 7%. USDC on-chain settlement volume exceeded $36 trillion in the first half of the year, accounting for approximately 77% of global stablecoin transaction volume in June. Circle also introduced free, near real-time USDC redemptions available 24/7 for customers using the Circle Payment Network or Circle platform, addressing industry claims regarding issuer revenue retention and redemption costs.