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Circle Internet Group’s $770M Q4 and $0.43 EPS Fuel 17% Rally as USDC Monetization Broadens Beyond Reserve Yields

Stronger non-reserve revenue, Polymarket’s USDC migration, and Arc L1 development point to more durable, utility-driven growth.

February 25, 2026

Circle Internet stock jumps 17% after earnings. Stablecoin leader stabilizes the ship.

Companies mentioned:

Circle

Quick Take

Q4 revenue and reserve income hit $770M (+77% YoY) with GAAP EPS of $0.43; shares rose 17% post-earnings.
Q4 net income from continuing operations was $133M; full-year loss driven by $424M IPO-related stock-based compensation.
Polymarket’s USDC migration and Arc L1 development aim to diversify revenue beyond reserve income and support more durable growth.

Circle Internet Financial, the issuer of the popular USD Coin (USDC) stablecoin, announced stellar financial results for the fourth quarter and full year of 2025, underscoring the accelerating momentum in internet-native finance. The company highlighted record-breaking metrics that reflect the growing adoption of stablecoins in global transactions, cross-border payments, and emerging technologies like agentic AI.

Key highlights from Circle's 2025 results include:

USDC in Circulation: Reaching $75.3 billion by the end of the period, marking a 72% year-over-year (YoY) increase. This surge demonstrates heightened demand for stable, dollar-pegged digital assets amid volatile cryptocurrency markets and expanding use cases in decentralized finance (DeFi) and traditional banking integrations.

Onchain Transaction Volume: USDC facilitated a staggering $11.9 trillion in transactions, up 247% YoY. This explosive growth points to USDC's increasing utility in real-world applications, from remittances and e-commerce to institutional settlements, outpacing many traditional payment networks in efficiency and scale.

Total Revenue and Reserve Income: Climbing to $770 million, a 77% YoY rise. The boost is attributed to interest earned on reserves backing USDC, as well as fees from platform services. Circle maintains full transparency on its reserves, which are held in cash and short-term U.S. Treasuries, ensuring 1:1 backing for every USDC in circulation.

" Momentum is building in internet-native finance, and our Q4 and full year 2025 results show it," said Jeremy Allaire, CEO and co-founder of Circle. "We're enabling everything from frictionless cross-border payments to a world of emerging possibilities with agentic AI. Our platform is at the center of this financial transformation."

Revolut Tapped by FCA for Groundbreaking UK Stablecoin Sandbox

Fintech giant Revolut joins Monee Financial Technologies, ReStabilise, and VVTX as one of the first four firms to trial stablecoin issuance and use cases in the regulator's innovation program

February 25, 2026

MoonPay Launches AI Agent Virtual Accounts to Enable Autonomous Finance

The new non-custodial infrastructure allows agents to fund wallets 24/7 via Apple Pay and Venmo, signaling a shift toward machine-driven commerce.

February 25, 2026

Morpho Expands to Celo with Feather-Curated Vaults Targeting Emerging Markets

The integration combines Morpho’s lending infrastructure with Celo’s low-cost network to offer institutional-grade yield strategies across Latin America and Southeast Asia.

February 25, 2026

Don't Miss the Next Big Shift

The Stabledash newsletter keeps you off the timeline and dialed into modern money.
Join leaders at Circle, Ripple, and Visa who trust us for their stablecoin insights.

Stabledash

Markets

Circle Internet Group’s $770M Q4 and $0.43 EPS Fuel 17% Rally as USDC Monetization Broadens Beyond Reserve Yields

Stronger non-reserve revenue, Polymarket’s USDC migration, and Arc L1 development point to more durable, utility-driven growth.

February 25, 2026

Companies mentioned:

Circle

Quick Take

Q4 revenue and reserve income hit $770M (+77% YoY) with GAAP EPS of $0.43; shares rose 17% post-earnings.
Q4 net income from continuing operations was $133M; full-year loss driven by $424M IPO-related stock-based compensation.
Polymarket’s USDC migration and Arc L1 development aim to diversify revenue beyond reserve income and support more durable growth.

Key highlights from Circle's 2025 results include:

USDC in Circulation: Reaching $75.3 billion by the end of the period, marking a 72% year-over-year (YoY) increase. This surge demonstrates heightened demand for stable, dollar-pegged digital assets amid volatile cryptocurrency markets and expanding use cases in decentralized finance (DeFi) and traditional banking integrations.

" Momentum is building in internet-native finance, and our Q4 and full year 2025 results show it," said Jeremy Allaire, CEO and co-founder of Circle. "We're enabling everything from frictionless cross-border payments to a world of emerging possibilities with agentic AI. Our platform is at the center of this financial transformation."

Revolut Tapped by FCA for Groundbreaking UK Stablecoin Sandbox

Fintech giant Revolut joins Monee Financial Technologies, ReStabilise, and VVTX as one of the first four firms to trial stablecoin issuance and use cases in the regulator's innovation program

February 25, 2026

MoonPay Launches AI Agent Virtual Accounts to Enable Autonomous Finance

The new non-custodial infrastructure allows agents to fund wallets 24/7 via Apple Pay and Venmo, signaling a shift toward machine-driven commerce.

February 25, 2026

Morpho Expands to Celo with Feather-Curated Vaults Targeting Emerging Markets

The integration combines Morpho’s lending infrastructure with Celo’s low-cost network to offer institutional-grade yield strategies across Latin America and Southeast Asia.

February 25, 2026

Don't Miss the Next Big Shift

The Stabledash newsletter keeps you off the timeline and dialed into modern money.
Join leaders at Circle, Ripple, and Visa who trust us for their stablecoin insights.

Circle Internet Group’s $770M Q4 and $0.43 EPS Fuel 17% Rally as USDC Monetization Broadens Beyond Reserve Yields

Share

Q4 revenue and reserve income hit $770M (+77% YoY) with GAAP EPS of $0.43; shares rose 17% post-earnings.

Q4 net income from continuing operations was $133M; full-year loss driven by $424M IPO-related stock-based compensation.

Polymarket’s USDC migration and Arc L1 development aim to diversify revenue beyond reserve income and support more durable growth.

Revolut Tapped by FCA for Groundbreaking UK Stablecoin Sandbox

MoonPay Launches AI Agent Virtual Accounts to Enable Autonomous Finance

Morpho Expands to Celo with Feather-Curated Vaults Targeting Emerging Markets

Don't Miss the Next Big Shift

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Circle Internet Group’s $770M Q4 and $0.43 EPS Fuel 17% Rally as USDC Monetization Broadens Beyond Reserve Yields

Share

Q4 revenue and reserve income hit $770M (+77% YoY) with GAAP EPS of $0.43; shares rose 17% post-earnings.

Q4 net income from continuing operations was $133M; full-year loss driven by $424M IPO-related stock-based compensation.

Polymarket’s USDC migration and Arc L1 development aim to diversify revenue beyond reserve income and support more durable growth.

Revolut Tapped by FCA for Groundbreaking UK Stablecoin Sandbox

MoonPay Launches AI Agent Virtual Accounts to Enable Autonomous Finance

Morpho Expands to Celo with Feather-Curated Vaults Targeting Emerging Markets

Don't Miss the Next Big Shift

Sign up

Subscribe

Follow us

Subscribe