𝐁𝐥𝐚𝐜𝐤𝐑𝐨𝐜𝐤 + 𝐕𝐢𝐬𝐚 + 𝐌𝐚𝐬𝐭𝐞𝐫𝐜𝐚𝐫𝐝… 𝐛𝐮𝐭 𝐰𝐡𝐞𝐫𝐞 𝐢𝐬 𝐂𝐢𝐫𝐜𝐥𝐞’𝐬 𝐦𝐨𝐧𝐞𝐲 𝐜𝐨𝐦𝐢𝐧𝐠 𝐟𝐫𝐨𝐦?
Circle’s Arc Mainnet launches today, and the institutional lineup is serious.
BlackRock, Visa, Mastercard and DTCC are among the founding validators as Circle pushes USDC beyond being just a stablecoin and deeper into payments, settlement and tokenized assets.
But there’s a number I keep coming back to:
95.2%
That was the share of Circle’s Q2 revenue coming from reserve income.
So while the Arc story is getting bigger, Circle’s revenue model is still heavily tied to USDC reserves and interest rates.
That’s what makes $CRCL interesting here.
Arc doesn’t just need to bring more institutions onchain. Eventually, it needs to prove that all this activity can become a meaningful source of platform revenue.
Because there’s a big difference between USDC becoming more useful and Circle making more money from that usefulness.
That’s the part I’m watching.
#BTC #BTC Price Analysis# #USDC #BlackRock $BTC $USDC
Circle’s Arc Mainnet launches today, and the institutional lineup is serious.
BlackRock, Visa, Mastercard and DTCC are among the founding validators as Circle pushes USDC beyond being just a stablecoin and deeper into payments, settlement and tokenized assets.
But there’s a number I keep coming back to:
95.2%
That was the share of Circle’s Q2 revenue coming from reserve income.
So while the Arc story is getting bigger, Circle’s revenue model is still heavily tied to USDC reserves and interest rates.
That’s what makes $CRCL interesting here.
Arc doesn’t just need to bring more institutions onchain. Eventually, it needs to prove that all this activity can become a meaningful source of platform revenue.
Because there’s a big difference between USDC becoming more useful and Circle making more money from that usefulness.
That’s the part I’m watching.
#BTC #BTC Price Analysis# #USDC #BlackRock $BTC $USDC
