Circle announced Q4 and full-year results for 2025: total annual revenue of $2.7 billion, an increase of 64%, and USDC circulation increased by 72%

The stablecoin USDC issuer Circle announced its performance for the fourth quarter and the full year of 2025, which includes:

• The amount of USDC in circulation is $75.3 billion (as of the end of the period), a year-on-year increase of 72%;
• The on-chain transaction volume of USDC reached $11.9 trillion, a year-on-year increase of 247%;
• Total revenue and reserve income reached $770 million, a year-on-year increase of 77%;
• Total revenue and reserve income for the fiscal year 2025 is $2.7 billion, an increase of 64%;
• The net loss from continuing operations for the fiscal year 2025 is $70 million, mainly impacted by $424 million in equity incentive expenses related to the initial public offering (IPO), while the net profit from continuing operations for the fiscal year 2024 was $157 million;
• The adjusted EBITDA for the fiscal year 2025 is $582 million, an increase of 104%.

Circle stated that it is building an economic operating system for the internet, realizing various emerging possibilities from frictionless cross-border payments to intelligent artificial intelligence.