Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Circle Q3 revenue hits $740m, USDC circulation nears $74b

Circle Q3 revenue hits $740m, USDC circulation nears $74b

Crypto.NewsCrypto.News2025/11/11 16:00
By:By Brian DangaEdited by Anthony Patrick

Circle is cashing in on stability. The USDC issuer posted $740 million in third-quarter revenue, a 66% jump from last year, as its flagship stablecoin’s circulation more than doubled.

Summary
  • Circle posted $740 MILLION in Q3 revenue, up 66% year-on-year, with USDC circulation rising 108% to $73.3 BILLION.
  • Net income tripled to $214 million, driven by institutional adoption and reserve income.
  • The company expanded its infrastructure with the Arc testnet launch and Circle Payments Network, signaling deeper integration with traditional finance.

The company, which listed on the NYSE earlier this year under the ticker CRCL, posted net income of $214 million, tripling last year’s profit. Adjusted EBITDA rose 78% to $166 million, reflecting steady expansion in reserve income and institutional use of USDC across trading, payments, and on-chain settlements.

Circle’s latest results extend a strong 2025 performance for the NYC-based issuer, which continues to benefit from higher yields on reserve assets and wider adoption of stablecoins in traditional finance.

CEO Jeremy Allaire called the quarter one of “measured growth and deepening market confidence” as USDC approaches a 30% share of the fiat-backed stablecoin market.

“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. With growing circulation, accelerating commercial partnerships and expanding collaboration across industries, we’re proud of the tangible progress toward a more open and efficient global financial system,” Allaire said.

Circle’s expanding footprint in the industry

Circle’s third-quarter earnings also revealed a steady infrastructure buildout and deeper institutional integration across its growing network. The company’s reserve income surged 60% year-over-year to $711 million, driven by a near-doubling in average USDC circulation, even as yields on reserves slightly eased. Other revenue climbed to $29 million, reflecting growing traction in Circle’s subscription, transaction, and services lines.

Operating expenses increased to $211 million, up 70% from last year, primarily due to headcount expansion and $59 million in stock-based compensation. Yet, adjusted operating costs grew at a slower 35%, underscoring improving operational leverage as the company scales. Circle also booked a $61 million tax benefit tied to research credits and compensation-related adjustments.

Infrastructure development

Beyond the financials, Circle launched Arc public testnet on October 28, which attracted participation from more than 100 companies across banking, capital markets, and technology. In a move that could further decentralize and incentivize the network, Circle confirmed it is exploring launching a native Arc token.

Concurrently, the Circle Payments Network is laying the groundwork for global digital dollar flows. The network now supports transactions in eight countries, with 29 financial institutions fully enrolled. A further 55 are undergoing eligibility reviews, and a pipeline of 500 institutions suggests deepening interest from the traditional banking sector. Since its late-May launch, CPN’s annualized transaction volume has rapidly scaled to $3.4 billion.

Circle’s shares, traded under the ticker CRCL, closed at $98.30 on Tuesday, down 5.57%, and trended another 3.5% lower in pre-market activity according to Yahoo Finance data.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Visa Executives' Share Dealings: Standard Financial Actions, Not Indicators for the Market

- Visa executives conducted routine stock transactions in late 2025, exercising shares to cover tax liabilities and surrendering portions to offset costs. - Senior officers including CFO Chris Suh and Tullier Kelly Mahon executed trades under prearranged plans, aligning with standard insider financial management practices. - Analysts emphasize these moves reflect personal financial strategies rather than market signals, though transparency remains critical amid regulatory scrutiny of executive compensation

Bitget-RWA2025/11/24 12:02
Visa Executives' Share Dealings: Standard Financial Actions, Not Indicators for the Market

Dogecoin News Update: Chainsaw Ambitions Halted: DOGE Ends Operations Eight Months Ahead of Schedule

- Trump's DOGE agency, led by Musk, disbanded eight months early, failing to cut $2 trillion in spending. - Critics accused it of overreaching, while OPM absorbed its functions and former members transitioned to new roles. - Mixed reactions persist, with states creating local equivalents and questions about long-term impact.

Bitget-RWA2025/11/24 12:02

Revolut Achieves $75 Billion Valuation, Overtaking Major Traditional Banks

- Revolut's $75B valuation surge reflects a $30B increase since 2024, driven by a funding round led by top-tier investors including Fidelity and Dragoneer. - The fintech reported $1.4B pre-tax profit growth and plans $13B in investments to expand to 100 million customers across 30 new markets by 2027. - CEO Nik Storonsky aims to secure UK banking licenses while pursuing global expansion in Mexico, Colombia, and India with regulatory approvals already secured. - Analysts highlight crypto trading and interes

Bitget-RWA2025/11/24 12:02
Revolut Achieves $75 Billion Valuation, Overtaking Major Traditional Banks

Dogecoin News Today: Traditional Financial Sector Welcomes Crypto with the Introduction of Grayscale's GDOG and GXRP ETFs

- Grayscale's GDOG and GXRP ETFs launched on NYSE Arca on November 24, 2025, marking crypto's mainstream financial integration. - The ETFs convert private trusts into tradable products, enabling institutional access to Dogecoin and XRP without digital wallets. - Derivatives volumes for DOGE and XRP surged pre-launch, while XRPC and SOL ETFs show growing demand for regulated crypto exposure. - Divergent regulatory approaches emerge: GDOG holds physical Dogecoin via Coinbase , contrasting derivative-based mo

Bitget-RWA2025/11/24 12:02