Stablecoin issuer Circle announced a 72% year-on-year surge in its USD Coin (USDC) circulation, reaching $75.3 billion in the fourth quarter. The company also reported a substantial 247% jump in transaction volume, totaling $11.9 trillion.
Following the earnings report, Circle Internet Financial (CRCL) shares experienced a significant uplift, climbing as much as 20% in intraday trading. The company's CEO, Jeremy Allaire, expressed optimism, suggesting Circle's growth will parallel the expansion of the artificial intelligence industry, potentially ushering in an era of unprecedented economic acceleration. He highlighted the development of systems supporting autonomous, programmatic cross-chain USDC transactions with minimal fees.
Circle's revenue and reserve income also saw a robust 77% increase year-over-year, reaching $770 million in Q4. Despite a net loss from continuing operations influenced by stock-based compensation, the company's performance indicates strong adoption of its stablecoin services.