Circle Announces USD Coin Circulation of $73.3 Billion

Circle reported that the circulation of USD Coin (USDC) reached $73.3 billion (approximately 101 trillion won) in its Q2 2026 earnings. The on-chain transaction volume for the second quarter was $14.8 trillion (approximately 2 quadrillion 394 trillion won), with total revenue and reserve income reported at $707 million (approximately 966 billion won). Artemis noted that Circle's liquidity-based network effects are underestimated, and it is expected that the supply of stablecoins will exceed $1 trillion by 2030. The Open Standard project has proposed a new stablecoin, OpenUSD (OUSD), with participation from over 140 companies, which is expected to exert competitive pressure on the existing stablecoin market. Circle announced that the recent 30-day annualized trading volume of CPN was $14.7 billion (approximately 20 trillion 256.6 billion won), with 175 participating financial institutions. Artemis analyzed that if USDC's market share reaches 20% and interest rates are at 2% by 2030, Circle could earn $4 billion (approximately 5 trillion 512 billion won) in interest income. The performance of Circle's platform transition will be confirmed based on the circulation of USDC and the trading volume of CPN.

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