Circle Internet Stock Skyrockets 18% after Stellar Earnings as USDC Volume Hits $11.9 Trillion

Circle is finally finding its footing after a rocky start on the public market. On February 25, 2026, Circle Internet Stock CRCL +0.33% ▲ shot up by 18.3% in premarket trading following a standout earnings report. The company is making far more money than Wall Street predicted, with revenue jumping 77% over the last year. These results show that Circle is successfully turning digital tokens into a high-growth financial business.

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Digital Dollars Hit Record Highs

The main engine behind Circle’s success is the growth of its stablecoin, USDC (USDC-USD). By the end of 2025, the total amount of USDC in circulation hit $75.3 billion, a 72% increase from the previous year. Even more impressive is the activity level: on-chain transaction volume for USDC reached $11.9 trillion in the fourth quarter alone, a 247% spike from the year before.

Circle makes most of its money from the interest earned on the cash and government bonds it holds to back USDC. Because more people are using USDC for payments, Circle’s revenue reached $770 million for the quarter, beating the $747 million analysts expected. The company’s Adjusted EBITDA (a key measure of profit) skyrocketed by 412% to reach $167 million.

Federal Approvals Have Reduced Regulatory Hurdles

Investors are also reacting to Circle’s progress with U.S. regulators. The company recently received conditional approval from the OCC to form a national trust bank. This is a major milestone because it moves Circle toward a gold standard of federal oversight.

Winning this preliminary license helps Circle move away from a messy web of state laws and operate under a single federal framework. It also positions the company to work more closely with large banks and institutions that require high levels of regulation. While there are still steps to complete before final approval, the move has greatly reduced the regulatory risk that previously weighed down the stock.

Big Partnerships Move $5.7 Billion

Circle is moving its technology into the real world through massive new partnerships. The Circle Payments Network has already enrolled 55 financial institutions, handling an annualized transaction volume of $5.7 billion.

One of the biggest recent wins is a deal with Polymarket, the world’s largest prediction market. Polymarket is moving its entire settlement system to native USDC, meaning users will trade and settle directly using Circle’s regulated tokens. The launch of the Arc testnet, which already has over 100 participants from the banking and capital markets, shows that Circle is building a new system for moving money at internet speed.

Is Circle Internet Group a Good Stock to Buy?

Circle Internet Group’s stock (CRCL) continues to carry a Strong Buy consensus, based on 12 analyst ratings over the past three months. Out of those, six call it a Buy, while five recommend a Hold, and only one analyst says to Sell.

The average 12-month GOOGL price target sits at $114.73, which represents 87% upside potential.

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