Circle’s USDC Issuance Jumps 72% to $75B as Corpay Drives $1.5B Revenue
Circle’s Corpay division controls over $400 billion in annual client spend and projects about $1.5 billion in cross-border revenue this year using proprietary payment networks. Circle’s stablecoin issuance climbed 72% to $75 billion last year, and a Mastercard partnership plus a planned investor teach-in underscore its blockchain-driven expansion.
1. Robust Cross-Border Network
Circle’s Corpay division leverages integrations with hundreds of bank networks, in-country schemes and real-time rails to serve clients whose annual spend exceeds $400 billion. This proprietary infrastructure supports automation of AP workflow and vendor payments, driving a projected $1.5 billion in cross-border revenue this year.
2. Stablecoin Issuance Growth
Circle expanded its stablecoin issuance by 72% last year, bringing total USDC outstanding to $75 billion. The firm treats stablecoins as an additional rail, capturing FX conversion and hedging fees on all flows regardless of the underlying transfer mechanism.
3. Mastercard Partnership and Investor Teach-In
The new partnership with Mastercard aims to deepen penetration in the financial institution segment by leveraging Mastercard’s banking relationships. Circle plans a cross-border investor teach-in after its May earnings call to detail its stablecoin strategy and blockchain capabilities.