Circle Says 59 Cents of Each Revenue Dollar Went to USDC Partners and Transaction Costs

Circle said it paid about $819 million of its roughly $1.4 billion in first-half 2026 revenue to USDC distribution partners and transaction costs, or about 59 cents of each revenue dollar. Kash Razzaghi , Circle’s chief commercial officer, disclosed the split in an Oct. 16 blog post. The post does not say how much of the $819 million went to partners and how much went to transaction costs. Another roughly $473 million , about 34 cents of each dollar, went back into the business, Razzaghi wrote, covering licenses, bank relationships, settlement liquidity, compliance, new products and blockchain integrations. Circle kept “7 cents of net profit from every dollar of revenue earned,” he wrote. Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter .

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