Circle Internet Group, Inc. (NYSE: CRCL) has reported significant growth in its third-quarter results for the fiscal year 2025, highlighting the progress of its digital dollar, USDC, and expanding services in the financial technology sector.
At the close of the quarter, the total USDC in circulation reached $73.7 billion, marking a remarkable 108% increase year-over-year. Circle’s total revenue and reserve income amounted to $740 million, up 66% compared to the same period last year. The company reported a net income of $214 million, demonstrating a substantial increase of 202% year-over-year, while its adjusted EBITDA rose by 78% to $166 million.
Circle has also seen an expansion of its Circle Payments Network (CPN), with 29 financial institutions currently enrolled, an additional 55 in eligibility reviews, and 500 more in the pipeline. The network’s annualized transaction volume is impressive, reaching $3.4 billion as of early November. This expansion corresponds with growing partnerships in the financial sector, involving notable institutions such as Brex, Deutsche Börse Group, and Visa, further solidifying Circle’s presence in the digital assets market.
The recent launch of the Arc public testnet has sparked considerable interest, attracting over 100 companies from various sectors including banking, digital assets, and technology. The Arc Network serves as Circle’s Layer-1 blockchain, designed to facilitate programmable financial infrastructure for the global economy. Besides this, the possibility of launching a native token on the Arc network is under exploration, aimed at boosting network participation and adoption.
In his remarks, Jeremy Allaire, Co-Founder and CEO of Circle, expressed optimism about the company’s trajectory as it builds a robust economic operating system for the internet. He noted that the enthusiasm from partners in both traditional and digital finance reflects a thriving ecosystem around open and programmable money, promoting a financial system that is more trustworthy and efficient.
Despite some challenges such as increasing operational costs and a competitive landscape, Circle’s strong performance illustrates its potential to lead innovation in the digital finance realm. The company’s efforts to integrate stablecoins with the evolving technological landscape signal a positive future for both Circle and the broader financial ecosystem.
Circle’s leadership will discuss these results in detail during a conference call on November 12, providing further insights into the company’s strategy and projections moving forward.