Circle reports $770 million Q4 revenue as USDC circulation reaches $75 billion, targets 40% CAGR for stablecoin
Circle reported $770 million in Q4 revenue and $75 billion USDC in circulation, aiming for a 40% annual growth rate for its stablecoin.Summary
Circle Internet Group announced a total revenue of $770 million for Q4 2025, a 77% increase year-over-year, driven primarily by reserve income of $733 million. USDC circulation reached $75.3 billion, up 72% from the end of 2024, with average USDC in circulation doubling to $76.2 billion. The company reported a net income of $133 million for Q4, a significant improvement from the $4 million in the prior-year period, and adjusted EBITDA increased by 412% to $167 million. Despite a full-year net loss of $70 million due to stock-based compensation related to its IPO, Circle is targeting a 40% compound annual growth rate for USDC circulation. The company also saw growth in EURC and USYC, and continues to develop its Arc public testnet and Circle Payments Network, with ongoing partnerships with Visa, Intuit, Ripple, and BitGo, and conditional approval for a national trust bank charter.
(Source：The Block)