Business Model & Revenue Streams - USDC 产生的收入受利率和分销协议的影响 [1] - CCTP 产生基于交易的收入，且为 Circle 所有 [1] Strategic Outlook - CCTP 有可能发展成为 Circle 最有价值的业务线，尤其是在多链世界中，该世界由 USDC 提供支持 [1]

Business Focus - USDC represents revenue tied to rates and distribution agreements [1] - CCTP generates transaction-based revenue and is owned by Circle [1] - CCTP has the potential to become Circle's most valuable business line, especially in a multichain environment powered by USDC [1] Market Trends - Circle's CCTP (bridge) transfer volume reached an all-time high of approximately $6.9 billion in July [1] - CCTP transfer volume experienced a year-over-year increase of approximately 500% [1]