USDC news

Morph integrates USDC and Circle’s Cross‑Chain Transfer Protocol (CCTP) to simplify stablecoin settlement, offering official USDC issuance and cross‑chain transfer without wrapped tokens, enhancing predictability for payment systems. The move supports payment gateways, remittances, card experiences, and DeFi by ensuring consistent asset behavior backed by a $150 million Accelerator, positioning Morph as a preferred stablecoin network for growing transaction volume.

Circle's Q4 earnings show a $733.4 million reserve income, of which $460.6 million went to distribution costs, leaving $272.8 million for the issuer. USDC circulation grew 72% to $75.3 billion and reserve yields were 3.8%. Distribution payments consume roughly 63% of the reserve yield. Circle publishes its 'Revenue Less Distribution Costs' margin (about 40%) each quarter, warning that its profits depend on a handful of exchanges, wallets and fintech partners that control user access. As Fed rates fall, the issuer's margin shrinks while sticky distribution fees stay high, pushing the industry toward more pay-to-play arrangements. Stablecoin economics therefore hinge on who controls the rails, not just on the yield itself.

Circle shares surged 30% to almost $80 after Q4 earnings beat, with $770 m revenue up 77% YoY and adjusted EBITDA of $167 m exceeding estimates. The company guided a 40% CAGR in USDC circulation and highlighted a 40%+ revenue‑less‑distribution‑cost margin. CEO Jeremy Allaire said USDC now accounts for roughly 50% of stablecoin transaction volume, up from just over a third, and that on‑chain volume rose 250% YoY to about $12 trillion. He stressed stablecoins’ growing role in payments and commerce, independent of Bitcoin’s price swings.

Circle Internet Group reported Q4 revenue of $770 million, up 77%, and net income of $133.4 million, beating expectations of 16 cents per share. The strong quarter was driven by a 72% jump in USDC circulation and robust growth in its Euro‑denominated stablecoin, EURC. The company also launched the public testnet for its Arc blockchain platform, attracting over 100 institutional participants, and expanded its Circle Payments Network to 55 financial institutions. Shares spiked 20% to about $74. Despite a $70 million loss for the year, operating income rose to $157 million amid a favorable regulatory climate under the GENIUS Act, although the CLARITY Act remains stalled.

Circle reported a 72% year‑on‑year rise in USDC circulation to $75.3 billion and a 247% jump in transaction volume to $11.9 trillion. The news pushed CRCL shares up to 20%, trading at $73.24. CEO Jeremy Allaire linked the gains to AI adoption and unveiled the Circle Gateway, allowing automated cross‑chain USDC transfers. Revenue and reserve income rose to $770 million, a 77% increase, though net loss from continuing operations hit $70 million, largely due to stock‑based compensation.

Circle Internet Group reported Q4 2025 revenue of $770 million, a 77% year‑over‑year increase, largely driven by $733 million in reserve income. USDC circulation topped $75 billion, up 72% from the end of 2024, while net income from continuing operations rose to $133 million, and adjusted EBITDA reached $167 million, a 412% jump from Q4 2024. For the full year, Circle posted a net loss of $70 million, largely due to $424 million in stock‑based compensation. The firm guided for a 40% compound annual growth rate in USDC circulation and highlighted growth in other stablecoins: EURC reached €310 million and USYC $1.5 billion. Its Arc testnet recorded over 166 million transactions with near‑100% uptime, and Circle shares climbed roughly 20% in pre‑market trading after the earnings release.

Bloomberg Intelligence estimates Coinbase’s stablecoin revenue—mainly its USDC share with Circle—could grow two‑to‑seven‑fold as payment adoption accelerates, already representing about 19% of the company’s 2025 revenue. Despite a $667 million net loss in Q4 2025, Coinbase generated $1.35 billion in stablecoin revenue last year, up from $911 million in 2024; Q4 alone contributed $364 million. Total stablecoin transaction volume hit a record $33 trillion in 2025, with USDC accounting for $18.3 trillion. Legislative pressure is mounting: the GENIUS Act, signed in July 2025, bars issuers from paying yield on stablecoins, and the Senate’s CLARITY Act may extend that ban, preventing Coinbase from offering rewards tied to stablecoin balances. Coinbase says it would keep more of the Circle revenue share if rewards were prohibited. The bill is expected to clear Congress by April.

ProShares launched the GENIUS Money Market ETF (IQMM), a fund built to hold short‑term Treasuries and comply with the GENIUS Act’s stablecoin reserve rules, and it recorded $17 billion in trading volume on its first day, far outpacing other new ETFs. Analysts attribute the surge mainly to internal re‑allocations—ProShares’ own funds moved $6 billion into IQMM—though speculation remains that U.S. stable‑coin issuers, particularly Circle, could later use the vehicle as the sole purpose‑built tool that satisfies federal reserve requirements.

Zerohash, a crypto infrastructure firm that hit a $1 billion valuation, has added support for the Monad blockchain and its USDC token, enabling clients like Kalshi, Gusto, and Public to launch stable‑coin payment flows without running their own blockchain or securing licenses. The move expands real‑time funding, cross‑border payments, B2B settlement and on‑chain commerce on a fast, dependable Layer 1 network. While Ethereum dominates Zerohash’s stable‑coin activity, the company plans to support more USDC variants on Monad as they appear.

Stripe previewed machine payments on its Base network, using the x402 protocol to allow developers to charge AI agents directly with USDC via the PaymentIntents API. Developers create a PaymentIntent, Stripe supplies a deposit address, agents pay, and transaction status can be tracked through API, webhook or dashboard. Sales tax, refunds and reporting remain handled by Stripe’s existing tools. x402, an open payment standard from Coinbase that repurposes HTTP 402 “Payment Required”, lets autonomous agents perform micro‑transactions 24/7 with low‑latency finality. Stripe offers open‑source utilities and plans to extend the system to other protocols, currencies and blockchains. CoinGecko also launched an x402‑powered API, charging $0.01 USDC per request for on‑chain data, as Stripe’s valuation climbs to $140 billion.