Coinbase's On-Platform USDC Holdings Climb to a Record $19 Billion

Coinbase's USDC holdings reached a record $19 billion as of May 24, 2026.

This figure represents 25.3% of the total USDC in circulation.

The company's share stood at less than 5% at the start of 2023.

Growing USDC reserves serve as a positive fundamental indicator for Coinbase.

Interest earned on these holdings boosts subscription and services revenue, diversifying income beyond transaction fees.