AI Agents Could Strip 20% of Circle’s Revenue, Mizuho Analysts Say

Mizuho has told clients that Circle could face a revenue risk of up to 20% tied to the growth of AI agents operating in payments and commerce. The assessment was reported by The Block and CryptoBriefing on October 27. Both outlets described the figure as an analyst projection rather than a confirmed financial outcome. Circle generates most of its revenue from interest earned on reserves backing USDC, its dollar-pegged stablecoin. A meaningful share of that income is shared with distribution partners, including Coinbase, under long-standing revenue-sharing agreements.