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Deployments · Circle Mint · platform by Circle

Circle USD Coin (USDC)Updated 7 Nov 2026

A US dollar stablecoin issued by Circle and redeemable one for one in dollars. Most of the reserve sits in the Circle Reserve Fund, a government money market fund managed by BlackRock with assets held at BNY, and the rest is cash at banks. Circle says it is issued natively on 38 chains; about $73 billion was outstanding in October 2026, the second-largest stablecoin. In the EU it is issued as a MiCA e-money token through Circle's French e-money institution, and it is the settlement asset of the Circle Payments Network.

AnnouncedProof of conceptPilotLive (limited)Live (scaled)

Live (scaled) since Sep 2018[10] — Open to retail and institutional holders on many chains with tens of billions outstanding. · Reviewed 13d ago

Assets
Stablecoin[5]
US dollar stablecoin backed by cash and a BlackRock-managed government money market fund
Networks
Ethereum Public, permissionless[10]
Hyperliquid Public, permissionless[10]
Solana Public, permissionless[10]
Base Public, permissionless[10]
Arbitrum Public, permissionless[10]
Polygon Public, permissionless[10]
BNB Chain Public, permissionless[10]
Arc Public, permissioned[10]
Avalanche Public, permissionless[10]
Stellar Public, permissionless[10]
Sui Public, permissionless[10]
Aptos Public, permissionless[10]
Monad Public, permissionless[10]
Fantom Opera Public, permissionless[10]
Optimism Public, permissionless[10]
Sonic Public, permissionless[10]
Starknet Public, permissionless[10]
Cronos Public, permissionless[10]
X Layer Public, permissionless[10]
NEAR Protocol Public, permissionless[10]
Noble Public, permissionless[10]
Algorand Public, permissionless[10]
Ink Public, permissionless[10]
XDC Network Public, permissionless[10]
Hedera Public, permissioned[10]
Tempo Public, permissioned[10]
Sei Public, permissionless[10]
ZKsync Public, permissionless[10]
TRON Public, permissionless[10]
Mantle Public, permissionless[10]
Celo Public, permissionless[10]
XRP Ledger Public, permissionless[10]
Plume Public, permissionless[10]
Kava Public, permissionless[10]
Kaia Public, permissionless[10]
Flow Public, permissionless[10]
Plasma Public, permissionless[3]
Linea Public, permissionless[3]
Unichain Public, permissionless[3]
World Chain Public, permissionless[3]
Morph Public, permissionless[3]
Pharos Public, permissionless[3]
Injective Public, permissionless[3]
Native USDC on Injective's EVM layer.
Polkadot Asset Hub Public, permissionless[3]
Polkadot Asset Hub asset ID 1337.
Use cases
Primary issuance[10]Cross-border payments[6]
Jurisdictions
United States, European Union, France

Participants

Operates under

Likely relevant regulation

Assets

Moves across networks

  • viaCircle Cross-Chain Transfer Protocol (CCTP)Ethereum ↔ Hyperliquid ↔ Solana ↔ Base ↔ Arbitrum ↔ Polygon ↔ Arc ↔ Avalanche ↔ Stellar ↔ Sui ↔ Aptos ↔ Monad ↔ Optimism ↔ Sonic ↔ Starknet ↔ Cronos ↔ X Layer ↔ Noble ↔ Ink ↔ XDC Network ↔ Sei ↔ Plume ↔ Plasma ↔ Linea ↔ Unichain ↔ World Chain[12]Native burn-and-mint of USDC between these of its networks.

Metrics

  • ~$73.13bnTokens in circulation · as of 11 Oct 2026[10]
    On-chain via DefiLlama; sum of its per-chain balances.
  • ~$45.16bnTokens in circulation · as of 11 Oct 2026 · on Ethereum[10]
    On-chain via DefiLlama.
  • ~$7.14bnTokens in circulation · as of 11 Oct 2026 · on Hyperliquid[10]
    On-chain via DefiLlama.
  • ~$6.8bnTokens in circulation · as of 11 Oct 2026 · on Solana[10]
    On-chain via DefiLlama.
  • ~$4.42bnTokens in circulation · as of 11 Oct 2026 · on Base[10]
    On-chain via DefiLlama.
  • ~$2.31bnTokens in circulation · as of 11 Oct 2026 · on Arbitrum[10]
    On-chain via DefiLlama.
  • ~$1.63bnTokens in circulation · as of 11 Oct 2026 · on Polygon[10]
    On-chain via DefiLlama.
  • ~$1.59bnTokens in circulation · as of 11 Oct 2026 · on BNB Chain[10]
    On-chain via DefiLlama. DefiLlama counts Binance-Peg USDC here; Circle does not issue natively on BNB Chain.
  • ~$509.33mTokens in circulation · as of 11 Oct 2026 · on Arc[10]
    On-chain via DefiLlama.
  • ~$468.58mTokens in circulation · as of 11 Oct 2026 · on Avalanche[10]
    On-chain via DefiLlama.
  • ~$370.73mTokens in circulation · as of 11 Oct 2026 · on Stellar[10]
    On-chain via DefiLlama.
  • ~$315.22mTokens in circulation · as of 11 Oct 2026 · on Sui[10]
    On-chain via DefiLlama.
  • ~$306.17mTokens in circulation · as of 11 Oct 2026 · on Aptos[10]
    On-chain via DefiLlama.
  • ~$230.62mTokens in circulation · as of 11 Oct 2026 · on Monad[10]
    On-chain via DefiLlama.
  • ~$181.42mTokens in circulation · as of 11 Oct 2026 · on Fantom Opera[10]
    On-chain via DefiLlama. Bridged USDC counted by DefiLlama; not a Circle native issue.
  • ~$164.21mTokens in circulation · as of 11 Oct 2026 · on Optimism[10]
    On-chain via DefiLlama.
  • ~$156.36mTokens in circulation · as of 11 Oct 2026 · on Sonic[10]
    On-chain via DefiLlama.
  • ~$148.99mTokens in circulation · as of 11 Oct 2026 · on Starknet[10]
    On-chain via DefiLlama.
  • ~$138.89mTokens in circulation · as of 11 Oct 2026 · on Cronos[10]
    On-chain via DefiLlama. Includes bridged USDC counted by DefiLlama.
  • ~$127.73mTokens in circulation · as of 11 Oct 2026 · on X Layer[10]
    On-chain via DefiLlama. Includes bridged USDC counted by DefiLlama.
  • ~$88.65mTokens in circulation · as of 11 Oct 2026 · on NEAR Protocol[10]
    On-chain via DefiLlama.
  • ~$88.46mTokens in circulation · as of 11 Oct 2026 · on Noble[10]
    On-chain via DefiLlama.
  • ~$67.93mTokens in circulation · as of 11 Oct 2026 · on Algorand[10]
    On-chain via DefiLlama.
  • ~$62.93mTokens in circulation · as of 11 Oct 2026 · on Ink[10]
    On-chain via DefiLlama.
  • ~$52.12mTokens in circulation · as of 11 Oct 2026 · on XDC Network[10]
    On-chain via DefiLlama.
  • ~$73bnTokens in circulation · as of 8 Oct 2026[4]
    Issuer-reported figure.
  • $73.54bn / quarterUSDC minted · as of 31 Mar 2026[13]
    Q1 2026. Circle's measure of dollars converted into USDC by Circle Mint customers (USD 73,539m).
  • $83bn / quarterUSDC minted · as of 30 Jun 2026[14]
    Q2 2026 (USD 83,004m); USD 156,543m in the first half.
  • $71.76bn / quarterUSDC redeemed · as of 31 Mar 2026context[13]
    Q1 2026: USDC converted back to dollars by Circle Mint customers. Context so mint and redemption are not added together.
  • $86.78bn / quarterUSDC redeemed · as of 30 Jun 2026context[14]
    Q2 2026. Context so mint and redemption are not added together.
  • ~$21.5tn / quarterUSDC onchain transaction volume · as of 31 Mar 2026context[13]
    Q1 2026, Circle's own measure: native and canonically bridged USDC settled across supported chains except Solana. Includes trading, DeFi and automated transfers, not only payments, so shown as context (see decision 2026-10-26-flows-1).
  • ~$14.8tn / quarterUSDC onchain transaction volume · as of 30 Jun 2026context[14]
    Q2 2026, same definition (excludes Solana). Context: raw on-chain transfer volume, not payments alone.
  • ~$70.68bnSupply on chain (daily) · as of 7 Nov 2026[16]
    Automated daily reading of on-chain supply across all chains.
  • ~$31.93mSupply on chain (daily) · as of 7 Nov 2026 · on Starknet[16]
    Automated daily reading.
  • ~$27.93mSupply on chain (daily) · as of 7 Nov 2026 · on TRON[16]
    Automated daily reading.
  • ~$5.04mSupply on chain (daily) · as of 7 Nov 2026 · on XRP Ledger[16]
    Automated daily reading.
  • ~$199.13mSupply on chain (daily) · as of 7 Nov 2026 · on Monad[16]
    Automated daily reading.
  • ~$299.07mSupply on chain (daily) · as of 7 Nov 2026 · on Aptos[16]
    Automated daily reading.
  • ~$26.39mSupply on chain (daily) · as of 7 Nov 2026 · on Hedera[16]
    Automated daily reading.
  • ~$115.36mSupply on chain (daily) · as of 7 Nov 2026 · on Algorand[16]
    Automated daily reading.
  • ~$1.68bnSupply on chain (daily) · as of 7 Nov 2026 · on Polygon[16]
    Automated daily reading.
  • ~$5.33mSupply on chain (daily) · as of 7 Nov 2026 · on Kava[16]
    Automated daily reading.
  • ~$52.86mSupply on chain (daily) · as of 7 Nov 2026 · on Ink[16]
    Automated daily reading.
  • ~$2.89mSupply on chain (daily) · as of 7 Nov 2026 · on Kaia[16]
    Automated daily reading.
  • ~$42.91bnSupply on chain (daily) · as of 7 Nov 2026 · on Ethereum[16]
    Automated daily reading.
  • ~$60.01mSupply on chain (daily) · as of 7 Nov 2026 · on XDC Network[16]
    Automated daily reading.
  • ~$137.71mSupply on chain (daily) · as of 7 Nov 2026 · on Cronos[16]
    Automated daily reading.
  • ~$4.27bnSupply on chain (daily) · as of 7 Nov 2026 · on Base[16]
    Automated daily reading.
  • ~$79.31mSupply on chain (daily) · as of 7 Nov 2026 · on Noble[16]
    Automated daily reading.
  • ~$148.1mSupply on chain (daily) · as of 7 Nov 2026 · on Optimism[16]
    Automated daily reading.
  • ~$1.59bnSupply on chain (daily) · as of 7 Nov 2026 · on BNB Chain[16]
    Automated daily reading.
  • ~$2.28mSupply on chain (daily) · as of 7 Nov 2026 · on Flow[16]
    Automated daily reading.
  • ~$262.14mSupply on chain (daily) · as of 7 Nov 2026 · on Avalanche[16]
    Automated daily reading.
  • ~$2.29bnSupply on chain (daily) · as of 7 Nov 2026 · on Arbitrum[16]
    Automated daily reading.
  • ~$352.37mSupply on chain (daily) · as of 7 Nov 2026 · on Sui[16]
    Automated daily reading.
  • ~$1.28bnSupply on chain (daily) · as of 7 Nov 2026 · on Arc[16]
    Automated daily reading.
  • ~$31.67mSupply on chain (daily) · as of 7 Nov 2026 · on ZKsync[16]
    Automated daily reading.
  • ~$33.54mSupply on chain (daily) · as of 7 Nov 2026 · on Sei[16]
    Automated daily reading.
  • ~$338.81mSupply on chain (daily) · as of 7 Nov 2026 · on Stellar[16]
    Automated daily reading.
  • ~$57.53mSupply on chain (daily) · as of 7 Nov 2026 · on X Layer[16]
    Automated daily reading.
  • ~$16.08mSupply on chain (daily) · as of 7 Nov 2026 · on Celo[16]
    Automated daily reading.
  • ~$181.41mSupply on chain (daily) · as of 7 Nov 2026 · on Fantom Opera[16]
    Automated daily reading.
  • ~$6.57bnSupply on chain (daily) · as of 7 Nov 2026 · on Hyperliquid[16]
    Automated daily reading.
  • ~$15.28mSupply on chain (daily) · as of 7 Nov 2026 · on Mantle[16]
    Automated daily reading.
  • ~$90.12mSupply on chain (daily) · as of 7 Nov 2026 · on NEAR Protocol[16]
    Automated daily reading.
  • ~$9.79mSupply on chain (daily) · as of 7 Nov 2026 · on Plume[16]
    Automated daily reading.
  • ~$86.52mSupply on chain (daily) · as of 7 Nov 2026 · on Sonic[16]
    Automated daily reading.
  • ~$7.05bnSupply on chain (daily) · as of 7 Nov 2026 · on Solana[16]
    Automated daily reading.
  • ~$27.56mSupply on chain (daily) · as of 7 Nov 2026 · on Tempo[16]
    Automated daily reading.

Timeline

  1. Happened 14 Oct 2026 · Regulatory approval · recorded 17 Oct 2026
    The European Banking Authority classifies USDC as a significant e-money token under MiCA, the first of 45 notified EMTs; from 12 November 2026 the EBA takes over direct supervision of Circle Internet Financial Europe's own funds, reserves, liquidity and recovery plans, with the ACPR keeping the rest.[1]
  2. Happened 12 Dec 2025 · Regulatory approval · recorded 11 Oct 2026
    The OCC grants conditional approval for Circle's proposed national trust bank, First National Digital Currency Bank.[8]
  3. Happened Jun 2025 (month only) · Production milestone · recorded 11 Oct 2026
    Circle's IPO prospectus states that about 90% of USDC reserves sit in the BlackRock-managed Circle Reserve Fund, custodied at BNY.[5]
  4. Happened May 2025 (month only) · Launch · recorded 11 Oct 2026
    Circle Payments Network mainnet goes live, settling payments between financial institutions in USDC.[6]
  5. Happened 1 Jul 2024 · Regulatory approval · recorded 11 Oct 2026
    Circle obtains a French e-money institution licence and begins issuing USDC and EURC in the EU under MiCA; Circle Mint opens to European business customers.[7]
  6. Happened Sep 2018 (month only) · Launch · recorded 11 Oct 2026
    USDC goes live on Ethereum, launched by Circle together with Coinbase.[10]

Sources

  1. [1]The EBA classifies USDC as the first significant e-money token in the European Union — European Banking Authority, 14 Oct 2026. Accessed 17 Oct 2026.A
  2. [2]Interim MiCA register of e-money token white papers (EMTWP.csv) — ESMA. Accessed 14 Oct 2026.A
  3. [3]USDC contract addresses - Circle Docs — Circle. Accessed 18 Oct 2026. Mainnet table lists native USDC on 41 chains, including Linea, Unichain, World Chain and Plasma; also Codex and EDGE, which have no network record here..B
  4. [4]USDC — Circle. Accessed 11 Oct 2026.B
  5. [5]Circle Internet Group, Inc. prospectus (Form 424B4) — US Securities and Exchange Commission (Circle filing), Jun 2025. Accessed 11 Oct 2026.A
  6. [6]Circle goes live with the Circle Payments Network — Finovate, May 2025. Accessed 11 Oct 2026.C
  7. [7]Circle is First Global Stablecoin Issuer to Comply with MiCA, EU's Landmark Crypto Law — Circle, 1 Jul 2024. Accessed 11 Oct 2026.B
  8. [8]OCC conditionally approves 5 crypto firms for national trust bank charters — Axios, 12 Dec 2025. Accessed 11 Oct 2026.C
  9. [9]ClearBank announces plans to join Circle's payments network — ClearBank, 27 Oct 2025. Accessed 11 Oct 2026.B
  10. [10]USDC stablecoin data (API) — DefiLlama, 11 Oct 2026. Accessed 11 Oct 2026.A
  11. [11]Interim MiCA register - white papers for e-money tokens (EMTWP) — ESMA. Accessed 13 Oct 2026. Lists Circle Internet Financial Europe SAS (ACPR-supervised e-money institution) with the USDC white paper notified 1 July 2024..A
  12. [12]Supported blockchains and domains — Circle. Accessed 14 Oct 2026. USDC is supported on all CCTP domains except BNB Smart Chain; Noble on the legacy version only..B
  13. [13]Circle Internet Group, Inc. quarterly report on Form 10-Q for the quarter ended March 31, 2026 — Circle Internet Group (SEC Form 10-Q), 11 May 2026. Accessed 26 Oct 2026.A
  14. [14]Circle Internet Group, Inc. quarterly report on Form 10-Q for the quarter ended June 30, 2026 — Circle Internet Group (SEC Form 10-Q), 5 Aug 2026. Accessed 26 Oct 2026.A
  15. [15]Independent Accountants' Report and USDC Reserve Report, September 2026 — Circle (Deloitte & Touche LLP), 26 Oct 2026. Accessed 28 Oct 2026. Accountant named on the letterhead and signature images (read by rendering the PDF)..A
  16. [16]Supply by chain, read daily — DefiLlama (automated daily refresh). Accessed 7 Nov 2026.A

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