CENTRE

What CENTRE does

CENTRE is the open-source, decentralized protocol organization behind the USDC stablecoin, founded in 2017 in Boston. It operates a thin, protocol-governance layer (1-10 employees) whose primary economic engine and operational scaling sit within Circle Internet Group, the regulated US issuer of USDC that completed its NYSE IPO in 2025 at a $6.8B valuation. USDC is a fully reserved digital dollar: each token is redeemable 1:1 for one US dollar, backed by cash and short-dated US Treasuries custodied at BNY Mellon and managed through a Circle Reserve Fund administered by BlackRock, with monthly attestations from a Big Four accounting firm.

USDC is distributed across 30+ blockchain networks (including Ethereum, Solana, Polygon, Avalanche, Base, Arbitrum, and Optimism) and through a network of global distribution partners — major exchanges (Binance, Coinbase, OKX, Kraken, Bybit, Lemon, Mercado Bitcoin), fintechs and neobanks (MoneyGram, GCash, NUBank), and other platforms — reaching more than 500 million wallets across 185 countries. Circle holds US state money transmitter licenses, a NY DFS virtual currency business activity license, and an e-money institution license in France under MiCA, and has additionally launched the EURC euro-denominated stablecoin for European distribution.

The revenue model is anchored in interest income on the regulated reserves backing USDC in circulation, supplemented by transaction fees across blockchain rails. Distribution is API-first: USDC reaches end users through crypto exchanges, fintech and digital-wallet integrations, direct onchain/DeFi access, and institutional banking partners, with explicit revenue-sharing arrangements (notably with Coinbase). Customer segments span financial institutions and exchanges, individuals and small businesses (cross-border payments, remittances, salary protection against currency volatility), and the Web3/DeFi developer ecosystem.

Name

CENTRE

Legal name

Circle Internet Group, Inc.

Website

https://centre.io

Company type

Public

Founded year

2018

Operating status

Ipo

Headcount range

1–10 employees

Short description

CENTRE is the open-source, decentralized protocol organization behind USDC, the world's largest regulated digital dollar. It supports a globally distributed stablecoin network spanning 30+ blockchains, 185 countries, and more than 500 million wallets through regulated financial and exchange partnerships.

Ownership category

akta.pro rank

Product category

Stablecoin / Digital Currency Payment Network

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Finance Services (6199)

akta.pro primary industry

Stablecoin Payment Rails & Settlement Networks (Issuer-Led) (FSADADAF)

akta.pro secondary industries

Crypto Payment Gateways & Checkout APIs (FSADAIAA), On-Chain Payments & Stablecoin Infrastructure (Issuance, Rails, Treasury) (FSAGAMAD), Enterprise Payments & Tokenized Money (stablecoins, tokenized deposits, CBDC rails) (FSAPAIAJ)

Keywords

• Stablecoin network
• Digital dollar payments
• Blockchain payment protocol
• Decentralized payment infrastructure
• Crypto consumer payments

Headquarters

HQ city

Boston

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Stablecoin Issuance and Reserve Management: USDC generates revenue through the interest earned on reserves backing the stablecoin. The reserves consisting of cash and cash equivalents (short-dated US Treasuries, overnight Treasury repos) held at regulated institutions generate returns.
2. Transaction Fees: Revenue generated from network transaction fees when USDC is transferred across blockchains, with transfers often costing fractions of a penny.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels3 records

Core offering

CENTRE operates an open-source, decentralized crypto-powered consumer payment network that co-developed the USDC regulated digital dollar stablecoin. The platform provides a blockchain-based payment rail enabling users to send, trade, save, and spend digital dollars globally with sub-second settlement and transaction costs often measured in fractions of a penny, available across 30+ blockchain networks and 185 countries.

Differentiator

Problem solved

Functional benefit

Brands

• USDC: The world's largest regulated digital dollar, a stablecoin issued by Circle

Products and services

• USDC (Regulated Digital Dollar Stablecoin) A regulated digital dollar stablecoin fully backed by US dollar cash and cash equivalents (short-dated US Treasuries and overnight Treasury repos), issued on blockchain networks and redeemable 1:1 for US dollars. Used by financial institutions, exchanges, fintech apps, developers, and individuals for cross-border payments, trading, saving, and spending.

Quantifiable outcome

• 500+ million wallets have access to USDC through Circle's global ecosystem
• +2 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered core.

• BinancecoreChannel Partner/ Reseller/ DistributorBinance is the largest global crypto exchange offering USDC trading, low fees, and other tools for digital asset management. USDC is available on Binance for trading, saving, sending, and spending.
• CoinbasecoreChannel Partner/ Reseller/ DistributorCoinbase is a centralized exchange for buying, selling, and trading USDC, offering fast transactions and transfers. Circle has a revenue-sharing agreement with Coinbase.
• OKXcoreChannel Partner/ Reseller/ DistributorOKX is a leading cryptocurrency exchange and Web3 platform offering USDC trading, decentralized finance, and blockchain services.
• MoneyGramcoreChannel Partner/ Reseller/ DistributorMoneyGram integrates USDC for cross-border money transfer services, leveraging digital currency for faster international remittances.
• GCashcoreChannel Partner/ Reseller/ DistributorGCash, a Philippines-based mobile wallet, integrates USDC enabling users to send, spend, and save digital dollars.
• NUBankcoreChannel Partner/ Reseller/ DistributorBrazilian neobank NUBank offers USDC services to its customers, providing access to digital dollar functionality within its banking platform.
• The Bank of New York Mellon (BNY Mellon)coreTechnology or IntegrationBNY Mellon serves as the custodian for Circle's reserve assets, holding cash and cash-equivalent assets backing USDC.
• BlackRockcoreTechnology or IntegrationBlackRock manages the Circle Reserve Fund portfolio containing short-dated US Treasuries, overnight Treasury repurchase agreements, and cash that backs USDC.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Tether (issuer of USDT): Issuer of USDT, the world's largest dollar stablecoin by circulation. Direct competitor to USDC with similar fiat-backed model but different regulatory footprint and offshore issuer structure, making it the most directly comparable peer in regulated stablecoin rails.
• Paxos Trust Company: Issuer of regulated USDP and BUSD stablecoins under NYDFS supervision. A direct peer in regulated stablecoin issuance for payments and tokenization use cases, with overlapping banking and fintech integration plays.

Broad incumbents

• Coinbase: Major US crypto exchange that is both Circle's largest distribution partner (via revenue-sharing agreement) and a broader crypto financial services platform offering competing custody, exchange, and stablecoin-related services — overlapping at the intersection of stablecoin trading and on/off ramps.
• PayPal (PYUSD issuer): Issued PYUSD stablecoin through Paxos and operates its own massive consumer payments network. Overlaps with USDC in regulated dollar stablecoin issuance and merchant/consumer payment use cases from a large incumbent fintech rather than a crypto-native base.
• JPMorgan (Kinexys / JPM Coin): Operates JPM Coin / Kinexys for wholesale cross-border settlement and tokenized deposits targeting institutional clients. Represents the bank-issued tokenized money alternative that competes with USDC in regulated institutional payment rails.

Emerging players

• Ripple (RLUSD): Launched RLUSD enterprise-focused stablecoin under NYDFS trust charter, targeting cross-border payments and institutional settlement. Comparable to USDC on regulated stablecoin issuance with a stronger emphasis on bank and institutional corridors.
• Frax Finance: Hybrid algorithmic-collateralized stablecoin issuer (frxUSD, FRAX) operating on Ethereum. Comparable as a crypto-native dollar stablecoin competing for DeFi and on-chain payment volume, though with a markedly different collateral and governance model.
• MakerDAO (Sky / Dai): Decentralized protocol issuing DAI, a crypto-collateralized stablecoin used across DeFi. Competes with USDC for on-chain dollar liquidity and DeFi composability, but lacks the regulated, fiat-backed reserve structure that differentiates USDC.

Regional players

• Stellar Development Foundation: Public blockchain network facilitating stablecoin issuance and cross-border payments via MoneyGram and other corridors. Comparable as a payment-focused blockchain and stablecoin distribution rail intersecting USDC's on-chain money movement use cases.
• MoneyGram: Traditional global remittance operator integrating USDC and exploring its own stablecoin-powered cross-border services. Comparable as a corridor and distribution partner in the fiat on/off-ramp layer where USDC competes for remittance volumes.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights5 records

Customer concentration

• Xx.com/centre_io
• LinkedInlinkedin.com/company/centre-consortium

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CENTRE