Circle Internet Group reported a strong fourth quarter, lifting its stock by more than 35%. The company’s adjusted EBITDA rose more than fourfold year over year to $167 million, while adjusted earnings per share came in at $0.43, above Wall Street expectations of $0.35. Circle’s revenue jumped 77% year over year to $770 million, with USDC accounting for the majority of earnings.
By year-end 2025, USDC in circulation stood at $75.3 billion, up 72% from the prior year. Fourth-quarter transaction volume surged to $11.9 trillion, up 247%.
Circle also offers EURC, a euro-backed stablecoin, with €310 million circulating in the European Economic Area. The company runs a money market fund, USYC, backed largely by U.S. Treasuries.
Circle’s fintech services arm is expanding, led by Arc, a custom blockchain introduced last year that underpins trading of financial products and payments for e-commerce, with predictable transaction fees. In Q4, Arc’s testnet processed about 2.3 million transactions per day, and Circle aims to release a commercial version of Arc by year-end 2026. Looking ahead, Circle projects revenue in other segments to reach roughly $150–$170 million in 2026.
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