Exchange Earns $1.35B from Stablecoin Revenue via USDC Partnership

In a significant development for the stablecoin market, a major exchange has disclosed that it generated $1.35 billion in stablecoin-related revenue during 2025. According to a report, a large portion of this revenue stemmed from rewards-driven distribution payments linked to its partnership with Circle, the issuer of the USDC stablecoin. This highlights the growing financial impact of stablecoins on cryptocurrency platforms.

The exchange's revenue from stablecoins underscores the increasing importance of digital dollar-pegged assets in the crypto ecosystem. USDC, one of the leading stablecoins, has been widely adopted for trading, lending, and payments. The partnership between the exchange and Circle involves distributing USDC through reward programs, which incentivize users to hold and transact with the stablecoin.

This revenue figure is notable as it reflects the profitability of stablecoin-related services, even amid regulatory uncertainties. The disclosure comes as lawmakers in the United States are working on stablecoin legislation, such as the Clarity Act, which aims to provide a regulatory framework for these assets. A recent deal among senators regarding stablecoin yield has helped advance this act, potentially shaping the future of stablecoin operations.

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