Circle announced its Q4 and full-year results for 2025, emphasizing the substantial increase in the circulation of USDC, on-chain transaction volume, and revenue. The latest financial report from the company reflects the growing use of its stablecoin infrastructure solution in payments, trading, and markets for digital assets.
USDC Circulation Expands Year Over Year
At the end of the reporting period, the USDC in circulation was $75.3 billion, marking a 72% increase from last year. The increase in the supply of USDC indicates that there is a growing demand for dollar-backed digital assets in crypto-native applications and financial use cases.
The growth in the supply of USDC indicates that there is a growing use of USDC in exchanges, decentralized finance applications, cross-border payments, and institutional settlement.
Also Read: Circle Launches Native USDC on EDGE Chain, Boosting edgeX Liquidity
Onchain Transaction Volume Surges
Circle recorded a total of $11.9 trillion in USDC on-chain transaction volume in the US, marking a 247% year-over-year growth rate.
This is attributed to the various blockchains supported where the USDC is created and traded. An increase in the transaction volume indicates that USDC is being used as a means of exchange and settlement rather than a store of value.
Revenue and Reserve Income Growth
Total revenue and reserve income was $770 million for the quarter, a 77% increase from the previous year. A substantial part of Circle’s revenue comes from the interest income generated on reserves supporting USDC, which are generally held in cash and short-term U.S. Treasury securities.
The increase in revenue can be attributed to the increase in the circulation of USDC as well as the prevailing interest rate environment during the period.
Strategic Positioning in Internet-Native Finance
Circle explained that it is committed to developing infrastructure for internet-based financial services, with USDC at the center of that as a key settlement layer for digital commerce.
The company remains committed to use cases such as cross-border payments, institutional trading, tokenized assets, and new AI-based financial services. The company’s strategy for its platform is to provide compliant and scalable digital dollar infrastructure.
Also Read: Circle Partners With Polymarket to Support On-chain Prediction Markets