Circle just reminded the market why #stablecoins remain one of crypto’s most commercially viable sectors.

The company reported a strong fourth quarter, beating earnings expectations as #USDC circulation climbed 72% year over year to roughly $75 billion. Revenue jumped 77%, and investors responded quickly — sending shares up more than 35% after the announcement.

What stands out isn’t just the earnings beat. It’s the underlying trend. In a market that has faced volatility and regulatory friction, demand for regulated, fully reserved dollar-backed stablecoins continues to grow — particularly among institutional players.

#Circle is also expanding beyond issuance. Its Payments Network now includes 55 financial institutions, and more than 100 institutions have joined the public testnet for Arc, its blockchain infrastructure platform focused on tokenized financial applications.

Even with IPO-related expenses weighing on full-year net income, the operating performance tells a different story: stablecoin infrastructure is scaling, and it’s doing so within an increasingly defined regulatory framework.

As digital dollars become more embedded in global finance, Circle’s latest quarter signals that the stablecoin race is far from slowing down.