Circle Explained: The Company Behind the Rise of USDC

Holders and traders often criticize cryptocurrencies for their volatility. However, the introduction of a category of digital assets, called , now serves as a bridge to the traditional system, assisting keep losses to a minimum. 

At the heart of one of the most successful stablecoins, , is the fintech company Circle. Trading over $1 trillion per month across global markets, Circle has evolved from consumer BTC services to a vital part of the digital currency in the modern economy.

This article emphasized how Circle, the issuer of USDC, transformed from a Boston beginup into a stablecoin powerhouse.

Key Takeaways

• Circle evolved from a Boston-based consumer BTC beginup into a stablecoin powerhouse and is the primary issuer of USDC.
• Unlike many crypto companies, Circle actively embraces regulatory compliance, securing licenses (including the EU’s EMI and BitLicense) and incorporating in multiple jurisdictions to operate within existing global financial frameworks.
• Circle continues to innovate, exemplified by the public testnet deployment of its Arc blockchain, which aims to bring real-world financial activities on-chain, introducing features such as US dollar-based fees and sub-second settlement.

The Evolution of Circle and USDC

Circle Internet Financial LLC was founded in October 2013 in Boston, Massachusetts, by Jeremy Allaire and Sean Neville, when BTC was perceived as an experimental curiosity rather than a legitimate financial instrument.

Circle originally launched as a consumer finance company whose focus was on making BTC simple to use for peer-to-peer payments. It received more than $135 million in venture capital from four rounds of investments between 2013 and 2016, including a $50 million Series D led by Goldman Sachs.

In 2018, Circle co-founded the with Coinbase. The consortium was created specifically to govern and standardize the technology and growth of USDC. However, Circle and Coinbase agreed to dissolve the Centre Consortium in 2023, transferring all governance and operational responsibilities for USDC solely to Circle. This move streamlined control and decision-making under Circle’s direct oversight.

In its ahead days, it served as an platform platform for BTC, creating wallets in which users could purchase, trade, and store cryptocurrencies. Soon, they realized that due to the high value fluctuations of BTC, it became impractical for day-to-day use.

While its initial products gained traction, including Circle Pay, Circle Invest, and Circle Trade, the company rapidly realized it needed a stable digital dollar.  Beyond USDC, Circle leverages its core technology to offer a suite of products and services, including Euro Coin (EURC), a cross-chain transfer protocol, and programmable wallets and APIs.

Role of Circle in the Global Economy

later than going public, Circle reported revenue and reserve income of $1.68 billion in 2024, up from $1.45 billion in the previous year. On June 5, 2025, Circle debuted on the New York Stock platform under the ticker symbol “CRCL,” tripling in price by day’s close. The IPO brought unprecedented transparency to the stablecoin market, enabling investors to scrutinize the issuer through quarterly reports, SEC filings, and earnings calls.

However, the real impact lies in how USDC is being used around the world. For instance, the total all-time USDC transaction volume has crossed $20 trillion, while the monthly transaction volume reached $1 trillion in November 2024.

USDC provides the unbanked and underbanked with a secure, low-cost means to access digital money in over 180 countries. Where a local currency is unstable or the banking infrastructure is limited, USDC serves as an significant gateway to the global economy.

Furthermore, Binance added USDC as an integral stablecoin to its corporate treasury and extended access to over 250 million users globally. The companies developing USDC use cases are not limited to Mastercard, MoneyGram, Standard Chartered, Stripe, and Worldpay, proving the versatility of the stablecoin.

Regulatory Standards of Circle

While many cryptocurrency companies have treated regulation as an obstacle to navigate around, Circle took the opposite approach. The company actively embraced regulatory oversight, positioning itself as a model for how digital currencies should operate within existing financial frameworks.

In July 2024, Circle made history by becoming the first major global issuer to comply with the European Union’s Markets in Crypto-Assets regulatory framework, receiving an Electronic Money Institution (EMI) license from the French financial regulatory authority ACPR. This license allows Circle to issue both USDC and EURC throughout the EU market, serving over 450 million residents.

In December 2024, Circle marked a key milestone by incorporating in the Abu Dhabi Global Market, expanding its strategic presence in the Middle East and Africa. The company also achieved compliance with Canada’s new listing rules, demonstrating its commitment to operating within regulatory frameworks across multiple jurisdictions.

Circle now holds money transmitter licenses in 46 states, the District of Columbia, and Puerto Rico, plus a BitLicense from the New York State Department of Financial Services. This extensive licensing portfolio reflects years of patient work building relationships with regulators and meeting their requirements.

Current and Future Perspectives of Circle 

ahead this year, the company moved to a new global headquarters on the 87th floor of One World Trade Center in Lower Manhattan, symbolizing its arrival at the heart of global finance.

In October 2025, Circle deployed the public testnet for its , involving over 100 financial institutions and tech firms, including BlackRock, Visa, HSBC, and Anthropic. Arc aims to bring real-world financial activities on-chain, offering features such as US dollar-based fees and sub-second settlement.

Bottom Line

Circle has done, for now at least, what no one else could: build a cryptocurrency company that mainstream finance understands and trusts, as well as become a law-abiding establishment that regulators welcome with open arms. With USDC, Circle has created a digital dollar that moves trillions around the world, serves hundreds of millions of users, and operates within some of the most comprehensive regulatory frameworks across multiple continents. As the first publicly traded stablecoin issuer in America, Circle has shown the world that digital currencies can coexist with and improve the traditional financial system. With its momentum, growing clarity from regulators, and audacious infrastructure projects like the Arc blockchain.