Circle, the company behind the USDC stablecoin, has posted an impressive 200% increase in net profit for the third quarter of fiscal year 2025, underscoring the accelerating global adoption of digital dollars.
According to the company’s financial report, the total USDC supply in circulation surged 108% year-over-year to $73.7 billion. Circle’s combined revenue and reserve income reached $740 million, marking a 66% rise compared to last year.
Net profit climbed to $214 million, a threefold jump from 2024, while adjusted EBITDA improved by 78%, hitting $166 million.
Beyond its financial results, Circle revealed it is considering the launch of a native token within its new Arc network — a Layer 1 blockchain aimed at enhancing user participation, ecosystem engagement, and long-term network development.
Jeremy Allaire, Circle’s co-founder and CEO, described Q3 as “another milestone in the adoption of USDC and the expansion of Circle’s open financial infrastructure.”
“We continue to see strong momentum in USDC adoption and usage as we build a new financial operating system for the internet,” Allaire said.
He also highlighted the enthusiastic response to the Arc testnet, launched on October 28, which has attracted significant interest from partners across both traditional and digital finance sectors.
The company’s Circle Payments Network (CPN) has now expanded to eight countries, connecting 29 financial institutions, with 55 more undergoing verification and 500 in the onboarding process. Since launching in May 2025, CPN has processed $3.4 billion in transactions — a 7% monthly increase year-over-year as of November 7.
During the quarter, Circle also established new partnerships with Brex, Deutsche Börse Group, Finastra, Fireblocks, Hyperliquid, Kraken, Unibanco Itaú, and Visa.
Meanwhile, the company’s tokenized money market fund (USYC) grew by over 200%, surpassing $1 billion in assets between June and November.
Despite earlier public listing challenges, analysts at Bernstein forecast that USDC’s market cap could triple to $220 billion by 2027, potentially positioning Circle as a dominant player under the evolving U.S. regulatory framework for stablecoins.
