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FollowingCircle's second-quarter earnings report showed USDC had USDC liquidity of $73.3 billion and revenue of $701 million.
Circle reported second-quarter revenue of $701 million and adjusted EBITDA of $143 million. USDC liquidity reached US$73.3 billion in the second quarter. The launch of Arc Mainnet aims to promote institutional blockchain applications.
Circle's second-quarter earnings report showed that adoption of USDC continues to expand, with the stablecoin issuer reporting revenue and reserve income of $701 million. As of the end of June, USDC liquidity reached US$73.3 billion, while on-chain trading volume climbed to US$14.8 trillion. Shares rose as investors focused on Arc and the progress of banking.
Circle's second-quarter earnings report highlights USDC supply expansion
Circle's second-quarter earnings report shows that despite the weak stablecoin market environment, USDC liquidity increased by 19% year-on-year. The company said USDC's market share exceeded 60% during the quarter.
However, quarterly growth slowed down from the previous period. Revenue and reserve income increased 7% to $701 million, while adjusted EBITDA fell to $143 million from $151 million in the first quarter.
Circle reported that USDC liquidity reached US$73.3 billion in the second quarter of 2026, a year-on-year increase of 19%, and on-chain transaction volume increased by 151% to US$14.8 trillion. Revenue and reserve income reached $701 million.
Circle's reserve income remains the main revenue driver. As competition in the stablecoin field intensifies, the company continues to invest in infrastructure construction.
The company also reported USDC trading activity of $14.8 trillion for the quarter. That's down from $21.5 trillion in the previous quarter.
Circle Q2 earnings highlights Arc blockchain launch
Circle Q2 earnings update focuses heavily on Arc, its blockchain network designed for stablecoin payments and tokenized assets.
Circle confirms Arc public mainnet will launch on September 16. More than 100 institutions and ecosystem builders have participated, including major financial companies such as BlackRock, Visa and Mastercard.
Circle also highlighted its recent Federal Trust Bank approval and New York Trust License. These developments support its broader expansion into regulated digital finance.
Meanwhile, investors continue to focus on CRCL's performance and analysts are assessing future growth. USDC liquidity remains a key indicator, and new products such as Arc must bring more activity.
Circle faces competition from the emerging stablecoin network and a changing market environment. The company reported distribution costs of $407 million for the quarter, while reserve income was $653 million.
