Circle reported $701 million in Q2 revenue and $48 million in net income as USDC circulation reached $73.3 billion, while onchain volume rose 151% year over year.
Circle named BlackRock, Visa, DTCC and nine other institutions as founding validators for Arc, its USDC-native blockchain scheduled for a public mainnet launch on September 16.
Circle acquired IBM blockchain patent assets spanning more than 680 families and nearly 1,000 issued patents, adding an IP layer to USDC, Arc and its payments network.