Circle beats Q4 earnings estimates as USDC supply jumps 72%; shares surge 20%

The stablecoin issuer reported $770 million in revenue for the final 2025 quarter, beating forecasts as full-year sales rose 64% and USDC circulation topped $75 billion.

Stablecoin issuer Circle Internet Group reported stronger-than-expected fourth-quarter earnings on Wednesday, driven by rapid growth in its USDC stablecoin business and expanding payments operations, underscoring continued momentum in an otherwise challenging crypto market.

For the quarter ending Dec. 31, 2025, Circle posted revenue of $770 million, a 77% increase from a year earlier, and reported net income of $133.4 million, or 43 cents per share. Analysts expected per-share earnings of 16 cents on revenue of $747 million. 

The strong quarter was fueled in part by a 72% year-on-year increase in the circulation of Circle’s US dollar-pegged stablecoin, USDC (USDC), which reached about $75.3 billion by year-end.

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