Shares of Circle Internet Group (NYSE: CRCL) surged on Wednesday following the release of impressive growth metrics from the stablecoin network operator.
By the end of trading, Circle’s stock had climbed over 35%.
Circle’s reserve income saw a remarkable 69% increase year-over-year, reaching $733 million in the fourth quarter. This growth occurred despite the Federal Reserve’s interest rate cuts, which reduced returns for fintech firms by 68 basis points to 3.8%. The boost was largely fueled by a doubling in the average value of Circle’s main product, the USDC stablecoin.
CEO Jeremy Allaire noted in a press release that the fourth quarter marked significant strides in Circle’s objective to create an open and programmable Internet financial system.
On a positive note, the on-chain transaction volume for USDC surged by an astonishing 247%, hitting $11.9 trillion.
Allaire remarked that “USDC adoption continued to grow globally as more companies, developers, and public institutions integrated digital dollars into real-world payments, treasury, and on-chain financial workflows.”
Overall, Circle’s adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) soared 412%, amounting to $167 million. The financial technology provider attributed these gains to the surge in USDC circulation and the operational leverage of its business model.
Allaire further mentioned that as collaboration between traditional finance, fintech, and the public sector strengthens, Circle is playing a crucial role in establishing a more open and resilient global financial system.
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