# USDC stablecoin data

USDC on-chain data: 30-day mint, burn and net issuance, issuer freeze and seize acts, and contract freeze functions on Arbitrum, Base, BNB Chain, Ethereum, Optimism and Solana.

Canonical: https://achivx.org/stablecoins/usdc/
Updated: 2026-11-01
As of: 2026-10-31

Data card for USDC: on-chain issuance in the 30 days to 31 October 2026, issuer freeze and seize acts, and the freeze function of each contract, measured by the Stablecoin Scanner (ACHIVX).

## Issuer and rules

What issuer documents and public registers say about USDC, each row with its source. Register rows give the register's own date or the date we checked it.

| Fact | Value | Source |
|---|---|---|
| Issuer | Circle. Legal entity: Circle Internet Financial, LLC and Circle Internet Financial Europe SAS. Quote: "USDC is issued and redeemed by Circle Internet Financial, LLC and Circle Internet Financial Europe SAS (together, “Circle”)." | [Circle (PDF)](https://6778953.fs1.hubspotusercontent-na1.net/hubfs/6778953/USDCAttestationReports/2026/2026%20USDC_Examination%20Report%20September%2026.pdf) |
| Type | Category: fiat-backed. Circle says USDC and EURC are fully backed by highly liquid fiat reserves held separately from Circle’s operating funds. | [circle.com](https://www.circle.com/transparency) |
| Redemption | Circle says USDC is always redeemable 1:1 for US dollars. Under the USDC terms only Users Type A can redeem USDC directly with Circle; Circle Mint is not available to individuals. | [circle.com](https://www.circle.com/transparency), [circle.com](https://www.circle.com/legal/usdc-terms), [circle.com](https://www.circle.com/circle-mint) |
| Reserves | As of 30 September 2026. Attester: Deloitte & Touche LLP (examination under AICPA attestation standards). Circle’s USDC Reserve Report examined by Deloitte & Touche LLP: at the 30 September 2026 report date, USDC in circulation 73,878,861,314 and fair value of assets held in the USDC reserve $73,956,687,701. | [Circle (PDF)](https://6778953.fs1.hubspotusercontent-na1.net/hubfs/6778953/USDCAttestationReports/2026/2026%20USDC_Examination%20Report%20September%2026.pdf) |
| Freeze | The issuer can freeze addresses. Quote: "When an address is denied access, it can no longer send or receive Circle Stablecoin and all of the Circle Stablecoin controlled by that address is blocked and cannot be transferred on-chain." | [Circle (PDF)](https://6778953.fs1.hubspotusercontent-na1.net/hubfs/6778953/Blog%20Posts/Circle%20Stablecoin%20Access%20Denial%20Policy_pdf.pdf) |
| Yield to holders | The USDC terms say holders are not entitled to any interest or other returns earned on the reserve funds. | [circle.com](https://www.circle.com/legal/usdc-terms) |
| Regulation: European Union | Listed in the ESMA interim MiCA register of e-money token issuers as of 2026-11-01: Circle Internet Financial Europe SAS (LEI 969500OYUDADGZKCR583, home Member State FR, competent authority ACPR), with the USDC white paper (circle.com/fr/legal/mica-usdc-whitepaper, white paper notification date 01/07/2024). | [esma.europa.eu](https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv) |
| Regulation: European Union (France) | Circle says Circle SAS is a licensed Electronic Money Institution under n°17788 and a registered Crypto-Assets Services Provider under n°E2026-005. | [circle.com](https://www.circle.com/legal/mica-usdc-whitepaper) |
| Regulation: United States (New York) | Circle says Circle Internet Financial, LLC (NMLS ID 1201441) is licensed as a Money Transmitter and to engage in Virtual Currency Business Activity by the New York State Department of Financial Services. | [circle.com](https://www.circle.com/pressroom) |
| Regulation: United States (federal) | Circle says Circle National Trust, the trade name of First National Digital Currency Bank, N.A., is a national trust bank chartered and regulated by the OCC that provides custody of digital assets; it does not issue USDC. | [circle.com](https://www.circle.com/circle-mint) |
| Regulation: United Arab Emirates (ADGM) | Listed in the ADGM FSRA Consolidated List of Accepted Fiat-Referenced Tokens as of September 1, 2026 (list date), checked 2026-11-01. Accepted networks on the list: Algorand, Aptos, Arbitrum One, Avalanche C-Chain, Base, Celo, CODEX, Ethereum, Hedera, Linea, NEAR, Noble, OP Mainnet, Polkadot Asset Hub, Polygon PoS, XRP Ledger, SEI, Solana, Sonic, Stellar, Sui, Unichain, Worldchain, ZKsync Era. List note: "Inclusion of an FRT on this list does not imply acceptance of that FRT for use when serving clients in jurisdictions outside ADGM." | [assets.adgm.com](https://assets.adgm.com/download/assets/AFRT+List+Feb+2026.pdf/c1b34426b88e11f0912ade26907f67ec) |
| Regulation: Japan | Listed in the FSA register (as of 27 August 2026, 令和8年8月27日現在) as an electronic payment instrument handled by two registered intermediaries: SBI VCトレード株式会社 (Kanto Local Finance Bureau No. 00001) and コインチェック株式会社 (No. 00002). These are exchange service providers, not the issuer. The register says the FSA only confirmed, based on the providers’ explanations, that the instruments meet the legal definition. | [fsa.go.jp](https://www.fsa.go.jp/menkyo/menkyoj/denshikessaisyudan.pdf) |
| Regulation: Hong Kong | Not found in the HKMA register of licensed stablecoin issuers (checked 2026-11-01; the register lists 2 licensees; searched for "Circle"). | [hkma.gov.hk](https://www.hkma.gov.hk/eng/regulatory-resources/registers/register-of-licensed-stablecoin-issuers/) |

Checked against the sources on 1 November 2026. Not legal advice.

- revain.org: [revain.org/coins/usdc](https://revain.org/coins/usdc/)
- Glossary: [Fiat-backed stablecoin](/glossary/fiat-backed-stablecoin/), [Issuer](/glossary/issuer/), [Redemption](/glossary/redemption/), [Reserve / reserve assets](/glossary/reserve-assets/), [Reserve attestation](/glossary/reserve-attestation/), [Freeze (address freeze)](/glossary/freeze/), [Blacklist (issuer blacklist)](/glossary/blacklist/), [Mint](/glossary/mint/), [Burn](/glossary/burn/), [Net issuance](/glossary/net-issuance/)

## Issuance, 30 days

| Network | Minted | Burned | Net issuance | Window | Scanner build | Source |
|---|---|---|---|---|---|---|
| All covered networks | US$33.8 bn | US$35.3 bn | -US$1.52 bn | 30 days to 31 October 2026 | 1 November 2026 | [stablescan.achivx.com/usdc-explorer](https://stablescan.achivx.com/usdc-explorer) |
| Ethereum | US$24.7 bn | US$26.0 bn | -US$1.29 bn | 30 days to 31 October 2026 | 1 November 2026 | [stablescan.achivx.com/ethereum/stablecoin/usdc](https://stablescan.achivx.com/ethereum/stablecoin/usdc) |
| Base | US$3.99 bn | US$4.03 bn | -US$36.2 m | 30 days to 31 October 2026 | 1 November 2026 | [stablescan.achivx.com/base/stablecoin/usdc](https://stablescan.achivx.com/base/stablecoin/usdc) |
| Optimism | US$310 m | US$321 m | -US$11.7 m | 30 days to 31 October 2026 | 1 November 2026 | [stablescan.achivx.com/optimism/stablecoin/usdc](https://stablescan.achivx.com/optimism/stablecoin/usdc) |
| Arbitrum | US$4.77 bn | US$4.95 bn | -US$179 m | 30 days to 31 October 2026 | 1 November 2026 | [stablescan.achivx.com/arbitrum/stablecoin/usdc](https://stablescan.achivx.com/arbitrum/stablecoin/usdc) |

The scanner gives no issuance figure for USDC on Solana and BNB Chain.

Mints and burns the scanner decodes on the networks it covers, not the issuer's total issuance.

## Issuer acts

Acts the issuer carried out on Ethereum, Optimism, Base and Arbitrum, the networks where the scanner indexes USDC issuer acts.

| Measure | Value | Window | Scanner build | Source |
|---|---|---|---|---|
| Freeze acts | 65 | 30 days (2 October 2026 – 31 October 2026) | ledger read on 1 November 2026 | [stablescan.achivx.com/usdc-explorer](https://stablescan.achivx.com/usdc-explorer) |
| Unfreeze acts | 0 | 30 days (2 October 2026 – 31 October 2026) | ledger read on 1 November 2026 | [stablescan.achivx.com/usdc-explorer](https://stablescan.achivx.com/usdc-explorer) |
| Seize acts | 0 | 30 days (2 October 2026 – 31 October 2026) | ledger read on 1 November 2026 | [stablescan.achivx.com/usdc-explorer](https://stablescan.achivx.com/usdc-explorer) |
| Seized | US$0 | 30 days (2 October 2026 – 31 October 2026) | ledger read on 1 November 2026 | [stablescan.achivx.com/usdc-explorer](https://stablescan.achivx.com/usdc-explorer) |
| Addresses acted on | 35 | 30 days (2 October 2026 – 31 October 2026) | ledger read on 1 November 2026 | [stablescan.achivx.com/usdc-explorer](https://stablescan.achivx.com/usdc-explorer) |

Latest act in the ledger: 31 October 2026.

| Date | Network | Act | Scanner page |
|---|---|---|---|
| 31 October 2026 | Ethereum | freeze | [stablescan.achivx.com/ethereum/freeze/0x1f9bac88d8837222dd73b69112369c7598790ef902af3afc217a09f3ab60db3c](https://stablescan.achivx.com/ethereum/freeze/0x1f9bac88d8837222dd73b69112369c7598790ef902af3afc217a09f3ab60db3c) |
| 31 October 2026 | Ethereum | freeze | [stablescan.achivx.com/ethereum/freeze/0x1948c56382f7b889b54a1a90588253064944359017c00d5f1032c7bf5e9a3921](https://stablescan.achivx.com/ethereum/freeze/0x1948c56382f7b889b54a1a90588253064944359017c00d5f1032c7bf5e9a3921) |
| 30 October 2026 | Ethereum | freeze | [stablescan.achivx.com/ethereum/freeze/0x884b83c4ed4ddb0a33cb4977df7d9aa1b94ac14f8b7218680824955337fadb1c](https://stablescan.achivx.com/ethereum/freeze/0x884b83c4ed4ddb0a33cb4977df7d9aa1b94ac14f8b7218680824955337fadb1c) |
| 30 October 2026 | Ethereum | freeze | [stablescan.achivx.com/ethereum/freeze/0xc38c0e3a2d68d0599c42024f64d6d522834c91f4458e2fa58363c79d4c0b3d24](https://stablescan.achivx.com/ethereum/freeze/0xc38c0e3a2d68d0599c42024f64d6d522834c91f4458e2fa58363c79d4c0b3d24) |
| 30 October 2026 | Ethereum | freeze | [stablescan.achivx.com/ethereum/freeze/0x68ddbd9f75aa132fd877b677b5c69bd0f57eb43f45183e79556e938901512f10](https://stablescan.achivx.com/ethereum/freeze/0x68ddbd9f75aa132fd877b677b5c69bd0f57eb43f45183e79556e938901512f10) |

The scanner notes that every act is something the issuer did; it says nothing about who the address belongs to or why.

## Freeze function in the contract

What the USDC contract on each network lets the issuer do, from the scanner's token registry (read at build time, no build date).

| Network | Contract | Deployment | Freeze function | Source |
|---|---|---|---|---|
| Arbitrum | `0xaf88d065e77c8cc2239327c5edb3a432268e5831` | native | freeze only | [stablescan.achivx.com/arbitrum/stablecoin/usdc](https://stablescan.achivx.com/arbitrum/stablecoin/usdc) |
| Base | `0x833589fcd6edb6e08f4c7c32d4f71b54bda02913` | native | freeze only | [stablescan.achivx.com/base/stablecoin/usdc](https://stablescan.achivx.com/base/stablecoin/usdc) |
| BNB Chain | `0x8ac76a51cc950d9822d68b83fe1ad97b32cd580d` | bridged | no freeze function | [stablescan.achivx.com/bnb-chain/stablecoin/usdc](https://stablescan.achivx.com/bnb-chain/stablecoin/usdc) |
| Ethereum | `0xa0b86991c6218b36c1d19d4a2e9eb0ce3606eb48` | native | freeze only | [stablescan.achivx.com/ethereum/stablecoin/usdc](https://stablescan.achivx.com/ethereum/stablecoin/usdc) |
| Optimism | `0x0b2c639c533813f4aa9d7837caf62653d097ff85` | native | freeze only | [stablescan.achivx.com/optimism/stablecoin/usdc](https://stablescan.achivx.com/optimism/stablecoin/usdc) |
| Solana | `EPjFWdd5AufqSSqeM2qN1xzybapC8G4wEGGkZwyTDt1v` | native | freeze only | [stablescan.achivx.com/solana/stablecoin/usdc](https://stablescan.achivx.com/solana/stablecoin/usdc) |

## Settlement volume

The scanner publishes no organic settlement figure for USDC alone; its per-coin volume is raw, and this site does not print raw volume. Organic figures exist only for all stablecoins on a network together: see [organic settlement by network](/data/organic-settlement/).

## Links

- Stablecoin Scanner (ACHIVX): [stablescan.achivx.com/usdc-explorer](https://stablescan.achivx.com/usdc-explorer)
- ACHIVX Academy issuer page: [achivx.com/academy/issuers/circle.html](https://achivx.com/academy/issuers/circle.html)

## How these figures are made

- **Organic, not raw.** Settlement figures are the scanner's organic figures, with round trips and bot churn removed. Raw settlement volume is not printed, and no field the scanner marks as overflowed is used.
- **Coverage: 7 networks** (Arbitrum, BNB Chain, Base, Ethereum, Optimism, Solana, Tron). Networks, coins and wallets the scanner does not cover have no figures here.
- **Read at build time.** Figures are read from the [Stablecoin Scanner (ACHIVX)](https://stablescan.achivx.com/) when this site is built, not live in your browser. Each row gives its window, the scanner's build date and the scanner page it comes from.
- **Not a reserve or solvency claim.** Exchange and bridge balances are on-chain reads of the wallets the scanner can attribute: a floor of their on-chain stablecoins, not their reserves or liabilities.
- Scanner methodology version: `stablscan-methodology-v0.6.0`.

## revain.org
- https://revain.org/coins/usdc/

## Sources
- https://6778953.fs1.hubspotusercontent-na1.net/hubfs/6778953/Blog%20Posts/Circle%20Stablecoin%20Access%20Denial%20Policy_pdf.pdf
- https://6778953.fs1.hubspotusercontent-na1.net/hubfs/6778953/USDCAttestationReports/2026/2026%20USDC_Examination%20Report%20September%2026.pdf
- https://achivx.com/academy/issuers/circle.html
- https://assets.adgm.com/download/assets/AFRT+List+Feb+2026.pdf/c1b34426b88e11f0912ade26907f67ec
- https://stablescan.achivx.com/arbitrum/freezes
- https://stablescan.achivx.com/arbitrum/stablecoin/usdc
- https://stablescan.achivx.com/base/freezes
- https://stablescan.achivx.com/base/stablecoin/usdc
- https://stablescan.achivx.com/bnb-chain/stablecoin/usdc
- https://stablescan.achivx.com/ethereum/freezes
- https://stablescan.achivx.com/ethereum/stablecoin/usdc
- https://stablescan.achivx.com/optimism/freezes
- https://stablescan.achivx.com/optimism/stablecoin/usdc
- https://stablescan.achivx.com/solana/stablecoin/usdc
- https://stablescan.achivx.com/usdc-explorer
- https://www.circle.com/circle-mint
- https://www.circle.com/legal/mica-usdc-whitepaper
- https://www.circle.com/legal/usdc-terms
- https://www.circle.com/pressroom
- https://www.circle.com/transparency
- https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv
- https://www.fsa.go.jp/menkyo/menkyoj/denshikessaisyudan.pdf
- https://www.hkma.gov.hk/eng/regulatory-resources/registers/register-of-licensed-stablecoin-issuers/