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Stablecoins

Governance Tokens

RWA Perps

Bridge/Interop TVLList Your Assets Docs

Circle

On-chain AUM$77.498b

Platform totals

Live assets3

Chains118

Est. annual revenue$0

DeFi TVL$12.989b

DeFi TVL / AUM16.76%

Confirmed attestations3 / 3

Primary accessPermissionless (2)

Totals for filtered assets

$77.476b

$12.989b

Assets Rankings

Name	Asset Group
USD CoinUSDC	Fiat Currencies	$1	$74.409b	$74.409b	$12.975b	17.44%	Circle	Fiat Stablecoins	USD Stable	Permissionless	Asset	RWA	Circle Internet Financial, LLC	Yes	Yes	Yes	Yes		Yes	Yes
US Yield CoinUSYC	Bonds	$1.14	$2.603b	$2.603b	$14.01m	0.54%	Circle	Bond & MMF Funds	MMF	Permissioned	Asset	RWA	Hashnote International Short Duration Yield Fund Ltd	Yes	Yes	Yes	Yes	Yes	Yes	Yes
Circle Euro CoinEURC	Fiat Currencies	$1.15	$463.35m	$463.35m	$0	0%	Circle	Fiat Stablecoins	EUR Stable	Permissionless	Asset	RWA	Circle Internet Financial, LLC	Yes	Yes		Yes		Yes	Yes

About Circle

Circle issues a fiat-backed stablecoin maintained at parity with its reference currency through reserve backing and redemption mechanisms. It enables fast, low-cost settlement of stablecoin transactions.

EUR StableFiat StablecoinsPermissionless

Website Docs Protocol page

Profile

Founded: 2013
Headquarters: New York, USA
Primary chain: Ethereum
Parent platform: Circle
Issuer: Circle Internet Financial, LLC

Economics & revenue

Holder total fee0 bps

Tokenization platform take0 bps

Mint fee0 bps

Redemption fee0 bps

Float incomeYes

Revenue confidencePublic Filings

Fees last verified2026-07-02

Attestations & milestones

Attestation frequency: Monthly
Last attestation: Monthly (Deloitte)

2026-07final OCC approval for national trust bank First National Digital Currency Bank N.A.
2025-12OCC conditional approval for the national trust charter
2025-06IPO on NYSE under CRCL
2024-07first global stablecoin issuer compliant with MiCA via French EMI license
2018-09USDC launches with the CENTRE Consortium

Revenue methodology & documents

Revenue model: Float Income

Take-rate basis: Float income on reserves, net of distribution revenue-share

Revenue mix: Q1 2026 revenue was 694M, of which reserve income was 653M (94 percent) and other products 42M. Distribution costs consume about 55 to 60 percent of reserve income (Coinbase takes 100 percent of on-platform reserve income plus 50 percent of residual, and Binance has a paid-incentive deal per the 424B4).

Verification method: Redemption tiers from help.circle.com rendered in browser on 2026-07-02. Revenue split from the Q1 2026 earnings release. Distribution terms from SEC 424B4.

Chain/share-class variants: Redemption structure effective 2026-03-15 with three tiers. Basic has free standard redemption with a monthly net-redemption overage above 40M (2 bps to 100M, 5 bps above). Standard charges 5 bps on net daily redemption above 2M with a 10M gross daily limit. Institutional charges 5 bps gross daily with 2M per day free plus the same monthly overage and net-mint credits. EEA Basic charges a 2 bps service fee on net monthly redemptions above 40M.

Circle earns float income on USDC reserves (~5% APY on the $60B+ reserve = $3B+ annual gross revenue per recent 10-K disclosures). Revenue is shared with Coinbase (~50% of reserve income per the Centre Consortium dissolution agreement, ongoing). EURC and USYC layered on similar mechanics.

Prospectus Fee schedule Issuer document Terms and conditions

Issuer registry, regulation & leadership

Founders and leadership

Jeremy Allaire — Co-Founder, Chairman, CEO Sean Neville — Co-Founder

Issuer registry

Circle Internet Financial, LLC (US, NYSE: CRCL post-2025 IPO). Issuer of USDC ($60B+), EURC, USYC (yield-bearing), and historical BUSD-via-Paxos. Money-transmitter licensed in all 50 US states; MiCA-compliant in EU. Founded 2013 by Jeremy Allaire & Sean Neville.

Regulatory status

Public company on NYSE under CRCL since June 2025. Circle Internet Financial LLC holds US state money transmitter licenses and the first NYDFS BitLicense (2015). First global stablecoin issuer compliant with MiCA via a French ACPR EMI license (July 2024), with AMF crypto services approval in April 2026. Received final OCC approval in July 2026 to establish First National Digital Currency Bank N.A. and holds licenses in the UK, Singapore, Bermuda, and ADGM.

Entity structure

Circle Internet Group Inc. is the listed parent. Circle Internet Financial LLC holds the US money transmission and NYDFS licenses, a French EMI entity issues for the EEA under MiCA, and Circle International Bermuda holds a Bermuda digital asset license. The new OCC chartered trust bank will provide federally regulated custody.

Issuer source