Circle Surges 30% as...

Circle Surges 30% as Earnings Beat and Bold USDC Growth Targets Ignite Rally

By José Oramas February 26, 2026 In Circle, Stablecoins

USDC cryptocurrency coin sticker on blue candles chart banner. Concept of modern crypto money — Source:AdobeStock

Circle stock rose 30% to nearly $80 after beating fourth-quarter expectations with $770 million in revenue and setting a 40% growth target for USDC circulation.
CEO Jeremy Allaire reported that USDC now accounts for 50% of stablecoin transaction volume tracked by Visa, with on-chain volume reaching $12 trillion in the quarter.
The company recently acquired the Interop Labs team to integrate blockchain interoperability tools into Arc, Circle’s enterprise platform.

Stablecoin giant Circle (CRCL) jumped about 30% on Wednesday to near US$80 (AU$120) after the company beat fourth-quarter expectations and set aggressive USDC growth targets.

Circle posted US$770 million (AU$1.17 billion) in fourth-quarter revenue and reserve income, up 77% year over year. It also guided to about 40% compound annual growth in USDC circulation over the next several years.

William Blair kept an “outperform” rating and said Circle stands out as a public-market crypto infrastructure name. The firm pointed to a revenue-less-distribution-cost margin above 40% in the quarter, about 240 basis points ahead of its model, and said results benefited from more USDC being held directly on Circle’s platform (now close to 18% of average circulation).

Adjusted EBITDA was US$167 million (AU$255,510,000), about 12% above William Blair’s estimate.

After the rally, William Blair said Circle trades at roughly 17 times its 2027 EBITDA forecast, an 8% premium to fintech peers.

On CNBC, CEO Jeremy Allaire said USDC is taking a larger share of stablecoin payment activity. He said USDC accounts for about 50% of stablecoin transaction volume tracked by Visa, up from just over a third in the prior quarter.

Moreover, on-chain USDC transaction volume rose more than 250% year over year to about US$12 trillion (AU$17 trillion) in the quarter.

Allaire recently dismissed claims that interest-bearing stablecoins could trigger bank runs, classifying them as “absurd” at the World Economic Forum in Davos.

The company recently acquired the engineering team and technology from Interop Labs, a company associated with the early development of the Axelar network. The idea is to push Circle’s interoperability efforts by adding Interop’s tools and expertise into Circle’s enterprise blockchain, Arc.