Circle

Circle's USDC Compliance Playbook: Lessons from the Market Leader

Circle's USDC (approximately $65 billion in circulation as of August 2025, and larger since) is a working case study in institutional-grade stablecoin compliance. This piece examines Circle's reserve architecture, attestation practice, multi-jurisdiction licensing, the SVB depeg, and what changes once the enacted-but-not-yet-effective GENIUS Act takes effect.