According to the report, USDC supply reached $73.7 billion, a staggering 108% year-over-year increase, highlighting the continued adoption of dollar-backed stablecoins in the crypto ecosystem.
Total and reserve revenues climbed to $740 million, up 66% from the previous year, while net profit soared 202% to $214 million, demonstrating strong financial health and operational efficiency.
Stablecoin Momentum and Arc Testnet
USDC’s growth reflects a broader trend in institutional and retail demand for blockchain-based stablecoin alternatives to the dollar. In recent months, businesses and decentralized finance platforms have increasingly used USDC to facilitate cross-border payments, hedge volatility, and provide liquidity in crypto markets. For example, Circle has partnered with major payment networks and exchanges to integrate USDC for instant settlements, providing real-world application of stablecoins beyond trading.
Alongside its financial results, Circle announced the launch of Arc testnet, signaling its expansion into a full-fledged developer ecosystem. The Arc platform aims to provide a scalable and secure framework for developers building on Circle’s technology stack. The company is also exploring a native Arc network token. This token could encourage participation in the network and support the deployment of smart contracts, like Ethereum’s ETH or Solana’s SOL. The move allows Circle to play a larger role in the Web3 infrastructure landscape.
This morning we shared our third quarter results @Circle.
We’ve made tremendous progress providing platforms to the world’s largest startups and financial companies, and have seen strong growth and market share gains for @usdc.
With @Bowmore than 100 major companies are helping us design and test a new… pic.twitter.com/XSfST8x4p6
— Jérémie Allaire – jda.eth / jdallaire.sol (@jerallaire) November 12, 2025
Circle raised its revenue forecast for 2025 to $90-100 million, reflecting its optimism about new revenue streams beyond stablecoin issuance. The company’s growth is part of a broader trend of blockchain companies diversifying their revenue models to include network fees, developer tools and enterprise solutions. This approach not only strengthens financial viability, but also improves the long-term utility of USDC as a cornerstone of digital finance.
Learn more about the Circle
USYC is now available on Arc Testnet, offering a next-generation tokenized money market fund designed for institutional DeFi. USYC enables instant redemptions to USDC on a large scale, giving users access to short-duration U.S. Treasury yields. This while also serving as a guarantee for trading or the creation of structured products.
USYC is online @Bow Testnet!
USYC is a tokenized money market fund that enables large-scale instant redemptions in @USDC.
Programmable and designed for the next wave of institutional DeFi innovation.
→ Access to short duration US Treasury yields
→ Use as collateral for trading… pic.twitter.com/a8zoDSQSAd– Circle Developer (@BuildOnCircle) November 11, 2025
Built as an ERC-20 token, it allows for seamless integration with existing DeFi protocols and provides 24/7 on-chain liquidity via subscriptions and redemptions. Developers can join the allowlist to experiment with USYC on Arc Testnet, while mainnet access will be restricted to eligible non-US institutional users who complete onboarding, positioning USYC as a programmable tool for the next wave of institutional blockchain financing.
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