Stablecoin issuer Circle reported sharp development in USDC circulation and transaction exercise within the fourth quarter of 2025, as income and working profitability surged year-over-year.
USDC in circulation reached $75.3 billion at year-end, which is a 72% rise from a yr earlier, whereas on-chain transaction quantity climbed 247% to $11.9 trillion in This fall alone.
Circle Income Climbs
The corporate posted $770 million in whole income and reserve revenue for the quarter ending December 31, 2025, a 77% enhance in comparison with This fall 2024. Web revenue from persevering with operations rose to $133 million, up $129 million year-over-year, whereas adjusted EBITDA jumped 412% to $167 million.
For the total fiscal yr 2025, Circle recorded income and reserve revenue of $2.7 billion, which is a surge of 64% from 2024. Nonetheless, the corporate reported a internet lack of $70 million for the yr, in comparison with internet revenue of $157 million in FY24. The loss was primarily pushed by $424 million in stock-based compensation tied to vesting situations triggered by the corporate’s preliminary public providing.
Commenting on the monetary outcomes, Circle co-founder and CEO, Jeremy Allaire, mentioned,
“USDC adoption continued to develop globally as extra enterprises, builders, and public establishments built-in digital {dollars} into real-world funds, treasury, and onchain monetary workflows. We noticed sturdy engagement throughout our platform, significant progress towards launching Arc mainnet, continued development in CPN TPV, and rising momentum for EURC and USYC.”
Past Monetary Efficiency
Concerning its infrastructure and funds initiatives, Circle’s Arc public testnet launched with greater than 100 members throughout the banking, capital markets, digital belongings, funds, and expertise sectors.
As of February 20, 2026, the testnet recorded almost 100% uptime, half-second transaction finality, and a trailing 30-day each day common of two.3 million transactions. In the meantime, whole transactions have surpassed 166 million since launch. The corporate mentioned Arc stays on observe for a mainnet launch this yr.
Moreover, Circle’s Funds Community expanded to 55 enrolled monetary establishments, with 74 below eligibility overview, and reported $5.7 billion in annualized transaction quantity based mostly on trailing 30-day exercise. The corporate additionally cited partnerships with Visa, Intuit, the Authorities of Bermuda, and Polymarket, and confirmed conditional approval from the US Workplace of the Comptroller of the Forex to determine a nationwide belief financial institution.
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