Circle Beats Earnings as USDC Circulation Hits $75B

Stablecoin issuer Circle Internet Group significantly outperformed expectations in the fourth quarter of 2025, reporting revenue of $770 million (up 77% year-over-year) and net income of 43 cents per share, surpassing analyst consensus of 16 cents per share. This strong performance was largely driven by the 72% year-on-year increase in USDC circulation, which reached approximately $75.3 billion by year-end. For the full year 2025, Circle posted $2.7 billion in revenue but recorded a net loss of $70 million, primarily due to $424 million in stock-based compensation related to its planned IPO. Following the earnings announcement, Circle's shares surged over 20%. Operationally, the company launched the testnet for its Arc blockchain infrastructure and expanded its Circle Payments Network to 55 financial institutions. Furthermore, its euro-denominated stablecoin, EURC, saw circulation grow by 284% to 310 million euros. Circle has also benefited from favorable regulatory developments in the U.S., including the passage of the GENIUS Act.

(Source：Cointelegraph)