Circle, the issuer of the USDC stablecoin, reported exceptional results for the third quarter of fiscal year 2025, marking one of its strongest growth periods yet.
According to the company’s report, the amount of USDC in circulation rose 108% year over year to $73.7 billion. Total revenue and profit from reserves climbed to $740 million, up 66% compared with the same period last year.
Meanwhile, net profit tripled to $214 million, and adjusted EBITDA surged 78% to $166 million, reflecting strong momentum in adoption and institutional demand.
New Token and Global Network Expansion Signal Next Growth Phase
Circle also confirmed it is considering launching a native token on its new Arc network. The token would aim to boost user participation, strengthen ecosystem engagement, and support long-term development of the platform.
Company co-founder and CEO Jeremy Allaire said the third quarter reinforced the accelerated adoption of USDC and Circle’s growing ecosystem.
“Circle continued to see accelerating adoption of USDC and our platform in the third quarter as we build the new Economic OS for the internet,” Allaire stated.
He added that the launch of the Arc blockchain public testnet on October 28 generated “extraordinary enthusiasm from partners across traditional and digital finance,” signaling robust interest in open, programmable money.
“As digital dollars become integrated with the technological utility of the internet, Circle’s infrastructure is helping global finance move with greater trust, transparency, and velocity,” Allaire said.
The company reported that the Circle Payments Network (CPN) now spans eight countries, connecting 29 financial institutions, with 55 more undergoing verification and over 500 in the pipeline.
Since its launch in May 2025, the CPN has processed $3.4 billion in transactions (annualized over the past 30 days as of November 7).
During the quarter, Circle entered into strategic partnerships with major firms such as Brex, Deutsche Börse Group, Finastra, Fireblocks, Hyperliquid, Kraken, Unibanco Itaú, and Visa.
Additionally, the company’s USYC tokenized money market fund expanded by over 200% from late June to early November, reaching $1 billion in assets.
In the previous quarter, Circle already showcased rapid growth, with USDC’s supply up 90% to $61.3 billion alongside the launch of the Arc blockchain.
Despite temporary stock market challenges following its listing, Bernstein analysts predict that USDC’s market capitalization could triple to $220 billion by the end of 2027, potentially making Circle a dominant player in the U.S. stablecoin regulatory framework.
