According to Internet reports, according to Circle's IPO documents, cryptocurrency exchange provider Coinbase will receive 50% of the remaining revenue generated by USDC's stablecoin reserves. In an S-1 filing with the U.S. Securities and Exchange Commission on Tuesday, Circle revealed that Coinbase would receive 50% of its "remaining payment base"-revenue clearly derived from reserves supporting Circle's flagship stablecoin, which is pegged to the U.S. dollar 1:1. Circle generates income mainly from reserve assets, which basically include highly liquid U.S. Treasury instruments and cash equivalents. The company generated $1.7 billion in revenue through revenue and reserve assets in 2024 and reported net income of $156 million. Circle hopes to leverage the growing adoption trend of blockchain payments around the world to achieve profitability.