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 complete income and reserve revenue for the quarter ending December 31, 2025, a 77% enhance in comparison with This fall 2024. Internet 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 complete fiscal yr 2025, Circle recorded income and reserve revenue of $2.7 billion, which is a surge of 64% from 2024. Nevertheless, 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 circumstances triggered by the corporate’s preliminary public providing.
Commenting on the monetary outcomes, Circle co-founder and CEO, Jeremy Allaire, stated,
“USDC adoption continued to broaden 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
Relating to its infrastructure and funds initiatives, Circle’s Arc public testnet launched with greater than 100 contributors throughout the banking, capital markets, digital property, funds, and know-how sectors.
As of February 20, 2026, the testnet recorded practically 100% uptime, half-second transaction finality, and a trailing 30-day every day common of two.3 million transactions. In the meantime, complete transactions have surpassed 166 million since launch. The corporate stated 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 evaluation, and reported $5.7 billion in annualized transaction quantity primarily based 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 Foreign money to ascertain a nationwide belief financial institution.
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