Circle defends USDC economics as stablecoin rivals court its partners with bigger cut
Coinbase, Circle’s largest USDC partner, also backs Open USD, a rival network that passes reserve income to partners after a management fee.
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Summary
- Circle said it kept about 7 cents of profit per revenue dollar in the first half of 2026, after $819 million of $1.4 billion went to distribution and transaction costs.
- Coinbase, Circle’s largest USDC partner, also backs Open USD, a rival network that passes reserve income to partners after a management fee.
- Circle argued reserve income must also fund redemption, compliance and liquidity, and says standard USDC redemptions remain free.
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Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Why it matters:
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
