Circle Posts $770M Q4 Revenue as USDC Supply Hits $75B

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  • Q4 revenue jumped 77% YoY to $770M; full-year revenue hit $2.747B with EBITDA doubling.
  • USDC supply rose 72% to $75.3B as on-chain volume surged 247% to $11.9T.
  • EURC grew 284%, USYC hit $1.5B; Arc mainnet set for 2026 launch.

So, here we are: Circle’s big Q4 announcement. A nice, tidy $770 million in revenue. That’s a 77% jump compared to last year, but don’t get too excited. It’s not like they were just handing out money at a street corner. It’s impressive, sure, but remember this is the same company that probably has a room full of accountants doing their thing with numbers every single day. $770 million? Well, that’s what happens when you’re playing with digital money. The full-year revenue? $2.747 billion. Again, big numbers, but let’s not forget, it’s digital… which makes it even more fun to imagine.

And just when you thought, “Oh, that’s a nice little chunk of change,” here comes the kicker: USDC in circulation hit $75.3 billion. That’s a 72% year-over-year growth. Not bad, not bad. But the real question: is there anyone not using USDC at this point? It’s like the water cooler of crypto-everybody’s got it, and if you don’t, well, what are you doing with your life?

USDC Growth Drives Record Transaction Volume

Now, here’s where it gets really spicy: Circle’s on-chain transactions hit $11.9 trillion. That’s up 247% year-over-year. I mean, you can’t just blink without a transaction happening. You could probably walk outside, sneeze, and someone would send $5 in USDC across the blockchain. All that money moving around, and let’s be real: it’s not all from the Fortune 500 folks. Some of it’s probably from your buddy Bob who insists on sending you crypto every time he buys a pizza.

Circle’s CEO, Jeremy Allaire, in true CEO fashion, went on X to drop this bomb: “The internet is evolving from moving information to moving value.” I mean, he’s not wrong. Blockchain, stablecoins, and AI are all having this little crypto conference in the background, plotting world domination. And here we are, sitting at the table, waiting to see if we get a seat at the table or just end up with a snack.

We’re at an inflection point.

The internet is evolving from moving information to moving value.

Blockchain, stablecoins, and AI aren’t separate trends – they’re converging into something much bigger: a reimagined global economic system, built natively on the internet.

We are…

– Jeremy Allaire – jda.eth / jdallaire.sol (@jerallaire)

And when it’s not about the $75 billion in circulation, it’s about EURC (which grew by 284%, no less), and USYC hitting $1.5 billion. Who’s keeping track? Seems like Circle’s just out here collecting digital coins like it’s a new hobby. $5.7 billion in annualized Circle Payments Network transactions, which, sure, sounds like something out of a sci-fi movie. But hey, if you’re making that kind of money, who’s going to stop you?

Let’s not forget that Circle posted a net loss of $70 million for the year. But hey, that’s what happens when you IPO, right? Stock-based compensation and all that jazz. But we all know that in the land of digital assets, a little loss here and there is just part of the deal. It’s like going to the casino and dropping a few chips. No biggie.

Circle Eyes 2026 With Arc Launch and Aggressive USDC Targets

Now, looking into the not-too-distant future, Circle has set its sights on 2026. Targets? Oh, they’re setting them all over the place. RLDC margin of 38%-40%, with revenue somewhere between $150 million and $170 million. But what’s really interesting is the 40% compound annual growth target for USDC. 40%. You can’t even get 40% off a couch on sale, and here Circle is, aiming for that growth rate. Ambitious? Absolutely. Do they know something we don’t? Probably.

But here’s the kicker: Arc mainnet launch. That’s right, Circle is aiming for 2026 for this one. Arc is going to be the infrastructure for on-chain finance. So, when you hear “financial internet layer,” just know that Circle’s coming for it. They’re not just dipping their toes in-this is the deep end.

Some crypto industry observers, because apparently they all have very strong opinions, say that the big tech companies might start sniffing around. We’re talking Meta and the usual Big Tech suspects. One crypto-focused account, Layergg, tweeted: “Circle has proven that the stablecoin business is a cash cow.” But it’s not just Meta; it’s the whole tech gang. When they smell money, you know they’re circling.

Circle has proven that the stablecoin business is a cash cow.

Not just Meta – the Big Tech hyenas will circle once they smell the profits. They don’t want to be the gamblers. They want to run the casino.

Remember: we get to choose which casino we play in. If it’s crooked, we…

– Layergg (@layerggofficial)

Circle’s Q4 results come just as stablecoin regulation is heating up, because when things get too big, you know regulators are just waiting for their chance to swoop in. USDC’s share of stablecoin transaction volume was reportedly close to 50%. That’s right, half. You don’t get to be that big without causing a stir.

It looks like Circle’s not just holding the lead, they’re pushing it further into 2026. Buckle up, folks. It’s going to be one wild ride. Well, unless you don’t use USDC. In that case, good luck, my friend.

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2026-02-26 03:09