Circle Internet Group Reports Strong FY2025 Results, Eyes Continued USDC Growth

Circle Internet Group, Inc. (NYSE: CRCL) announced robust financial results for the fourth quarter and full fiscal year 2025, demonstrating significant growth in its stablecoin, USDC, and overall business operations. The company’s performance underscores its position as a key player in the evolving digital finance landscape.

Key Financial Highlights

As of December 31, 2025, Circle reported:

• USDC in Circulation: $75.3 billion, a 72% increase year-over-year.
• USDC On-Chain Transaction Volume: $11.9 trillion in the fourth quarter, representing a 247% increase.
• Fourth Quarter Total Revenue and Reserve Income: $770 million, a 77% increase.
• Net Income from Continuing Operations: $130 million, an increase of $129 million.
• Adjusted EBITDA: $167 million, a 412% increase.
• Full Fiscal Year Gross and Reserve Revenue: $2.747 billion, a 64% increase.
• Full Fiscal Year Adjusted EBITDA: $582 million, a 104% increase.

Business Expansion and Digital Asset Growth

Circle continued to expand its network and offerings throughout fiscal year 2025:

• Arc Public Testnet: Launched with over 100 participants.
• Circle Payments Network (CPN): Expanded to include 55 financial institutions.
• EURC Assets in Circulation: Increased 284% to €310 million.
• USYC Assets: Decreased 6% to US$1.5 billion, but increased 111% quarter-on-quarter.

Strategic Outlook and Guidance

Jeremy Allaire, CEO of Circle, stated that the fourth quarter marked “another step forward in building Circle’s open, programmable Internet financial system.”

Looking ahead to fiscal year 2026, Circle anticipates:

• USDC Circulation Growth: A compound annual growth rate (CAGR) of 40%.
• Other Revenue: Between $150 million and $170 million.
• Adjusted Operating Expenses: Between $570 million and $585 million.

Company Overview

Founded in 2013, Circle Internet Group is a payments technology company that issues stablecoins, including USDC (U.S. Dollar-pegged) and EURC (euro-denominated). The company went public on the New York Stock Exchange (NYSE) in June 2025. Circle’s platform facilitates the movement of digital assets across blockchains.

About USDC

USDC is a fully backed digital dollar and the world’s largest regulated stablecoin, offering 24/7 liquidity for global payments. It is redeemable 1:1 for US dollars and is designed for rapid global payments and financial markets.