# Circle

Updated: September 5, 2026

> Circle is a public company (NYSE: CRCL), the issuer of USDC and EURC. Founded in 2013, led by CEO Jeremy Allaire. It was the first major issuer to obtain a MiCA licence (EMI, France, 2024) and, in July 2026, a US OCC national trust charter. It IPO'd on the NYSE in June 2025.

- **Jurisdiction**: United States (headquartered in New York)
- **Founded**: 2013 (Jeremy Allaire, Sean Neville)
- **CEO**: Jeremy Allaire
- **Issues**: USDC, EURC
- **Licence**: MiCA EMI (France, since July 2024); US OCC national trust charter (since July 2026)
- **Attestation**: Deloitte, monthly
- **Ownership**: public company, NYSE: CRCL (IPO — June 2025)

## Structure and history

Circle Internet Group, Inc. was founded in 2013 by Jeremy Allaire and Sean Neville; it is headquartered in New York, on the 87th floor of One World Trade Center since 2025. The company launched USDC in October 2018 jointly with Coinbase under the CENTRE Consortium, wound down in August 2023 when Circle consolidated full ownership of the token (more on the launch in "History of Stablecoins" and in the USDC coin profile). On June 5, 2025, the company IPO'd on the NYSE at $31 per share — above its stated range — selling 34 million shares for about $1.1 billion; shares opened trading at $69 on debut. Jeremy Allaire has led the company as CEO since founding.

## Products

The core product is USDC (see the separate coin profile). The company also issues EURC, a euro-pegged token whose EU minting and redemption also runs through the Circle Mint France operating entity.

## Regulation

On July 1, 2024, Circle became the first major stablecoin issuer to obtain a French e-money institution (EMI) licence from the ACPR, bringing it into MiCA compliance ahead of the stablecoin rules taking effect on June 30, 2024. In the US, on July 10, 2026, the OCC granted the company final approval to establish the national trust bank First National Digital Currency Bank, N.A. (branded Circle National Trust): fiduciary custody of digital assets at the outset, with migration of USDC reserve management (over $73 billion) under its own federal charter planned as a future capability; CRCL shares rose more than 14% intraday on the news. Two days earlier, Japan's Sony Bank received a competing conditional OCC charter for the Connectia Trust stablecoin trust bank — the first instance of a foreign conglomerate's subsidiary pursuing a US trust charter under the GENIUS Act framework.

## Economics

For Q2 2026, Circle reported revenue and reserve income of $701 million (+7% year over year), net income of $48 million, adjusted EBITDA of $143 million (+8%), and diluted EPS of $0.18; USDC on-chain volume reached $14.8 trillion (+151% year over year), though the reserve return rate fell 66 basis points — a model where revenue is set by the reserve return rate rather than turnover is sensitive to monetary easing regardless of usage growth.

## Sources

- [Circle, leadership page (Jeremy Allaire)](https://www.circle.com/leadership/jeremy-allaire)
- [Circle, on the new New York headquarters](https://www.businesswire.com/news/home/20240913675556/en/Circle-Plants-a-Flag-in-the-Heart-of-Wall-Street-Announces-New-Global-Headquarters-in-New-York-City)
- [CNBC, on Circle's NYSE debut (June 2025)](https://www.cnbc.com/2025/06/05/stablecoin-issuer-circle-soars-in-nyse-debut-after-pricing-ipo-above-expected-range)
- [Circle, press release on the MiCA EMI licence (July 2024)](https://www.circle.com/pressroom/circle-is-first-global-stablecoin-issuer-to-comply-with-mica-eus-landmark-crypto-law)
- [Circle, press release on the OCC national trust charter approval](https://www.circle.com/pressroom/circle-receives-final-occ-approval-to-establish-national-trust-bank)
- [CNBC, on Circle receiving the OCC trust charter](https://www.cnbc.com/2026/07/10/circle-gets-an-occ-bank-charter-as-stablecoin-competition-heats-up-shares-surge-14percent.html)
- [Circle, Q2 2026 results press release](https://www.circle.com/pressroom/circle-reports-second-quarter-2026-results)

## Mentioned in the digest

- [August 2026 — Q2 results](https://stblcns.xyz/reports/State_of_Stablecoins_August_2026)
- [July 2026 — the OCC trust charter and banking partnerships](https://stblcns.xyz/reports/State_of_Stablecoins_July_2026)

Canonical: https://stblcns.xyz/en/wiki/stablecoins/circle