Circle fires back at OUSD with revenue breakdown after Stripe integration

On 16 October Circle published a detailed blog post outlining how it shares USDC revenue with partners. Chief commercial officer Kash Rajaghi revealed that in the first half of 2026 the company generated $1.4 billion in revenue, paid out $819 million to distributors and for transaction costs, and reinvested $473 million, leaving a net margin of seven cents per dollar.

The timing suggests a direct response to Open USD. Launched on 30 June by the Open Standards Consortium, the new stablecoin offers partners nearly all reserve income minus a small fee and free minting and redemption. On 30 September Stripe integrated OUSD into its stack with zero issuance fees and reward sharing.

Circle countered by stressing its existing free withdrawal service to bank accounts within two business days and round-the-clock instant settlement for clients using its payments network, framing these features as established advantages over newer entrants.

Based on information from cryptonews.net