- Stablecoin giant Circle recorded over $9.6 trillion in transaction volume in Q3 2025, up 680% in a year.
- The company’s Chief Strategy Officer referred to last year as the inflection point for global finance, driven by unprecedented regulatory progress in the stablecoin sector.
Circle, one of the world’s leading Internet financial platform companies, released its latest report titled “Beyond Stablecoins: The Rise of the Internet Financial System” on Tuesday. The document details the stablecoin institution’s major milestones toward 2026, particularly its growth in the payments sector.
Rapid Adoption of the USDC and EURC Stablecoins
According to Circle, its flagship stablecoins, the US dollar-pegged USDC and the euro-pegged EURC, have shown dramatic growth in 2025. It processed roughly $217 billion in USDC redemptions during the period, reflecting the high liquidity of its system and its deep integration with the banking system.
Meanwhile, the EURC has increased its penetration and market share by 50% by leveraging compliance with the Markets in Crypto-Assets Regulation (MiCA). This makes it a primary choice for institutions seeking a fully compliant, euro-denominated stablecoin.
Circle’s $9.6 Trillion Onchain Volume Milestone
By the third quarter of 2025, Circle’s onchain volume has spiked by up to 680% year-over-year (YoY) to $9.6 trillion. A key factor in its performance was its accelerated adoption across institutional finance, payments, and markets.
Circle Payments Network (CPN), the company’s fast, cost-effective, and compliant next-generation global payment infrastructure, has already reached $3.4 billion in annualized transaction volume only months following its launch in May 2025. Its network is rapidly expanding into more crypto hotspots, including Brazil, Nigeria, and others.
Additionally, Circle has boosted its visibility among institutions through partnerships with Globally Systemically Important Banks (GSIBs), including BNY Mellon, JPMorgan, Bank of America, and Goldman Sachs. It also has alliances with other financial powerhouses, like BlackRock and Visa. What’s more, it has been active in humanitarian efforts, such as providing stablecoin cash assistance to displaced communities, thereby amplifying its consumer exposure.
Circle looks forward to the success of its Arc blockchain, which it expects to cement its goal of becoming the Internet’s “Economic Operating System” (Economic OS). The chain entered the testnet phase in October 2025, with over 100 participating companies worldwide.
2025: An Inflection Point in Global Finance
Dante Disparte, Chief Strategy Officer and Head of Global Policy and Operations at Circle, highlighted, “2025 marked a clear inflection point for the global financial system.” He attributed the company’s progress and its stablecoin products to the landmark GENIUS Act, which US President Donald Trump signed into law mid-year, and to increased regulatory clarity in key markets, such as the EU’s MiCA rules.
