Circle Announces Q4 2025 and Full Year Results: Annual Total Revenue of $2.7 Billion, up 64%, USDC Circulating Supply up 72%

BlockBeats News, February 25th, Stablecoin USDC issuer Circle announced its Q4 2025 and full-year performance, including:

The circulating supply of USDC reached $75.3 billion (as of period-end), a 72% year-over-year growth;

On-chain USDC transaction volume hit $11.9 trillion, a 247% year-over-year growth;

Total revenue and reserve revenue amounted to $770 million, a 77% year-over-year growth.

Full-year 2025 total revenue and reserve revenue reached $2.7 billion, a 64% growth;

Full-year 2025 continued operating business net loss was $70 million, primarily impacted by $424 million in expenses related to initial public offering (IPO) equity incentives, while the full-year 2024 continued operating business net profit was $157 million;

2025 full-year adjusted EBITDA was $582 million, a 104% growth.

Circle stated that it is building an economic operating system for the internet, enabling various emerging possibilities from frictionless cross-border payments to AI-powered smart contracts.