USDC Circulation Soars 78% Year-Over-Year: Circle Unveils 2025 State of the USDC Economy Report

NEW YORK--(BUSINESS WIRE)--Circle Internet Group, Inc., is proud to unveil the third annual State of the USDC Economy report: ‘USDC as a Platform for Global Prosperity.’ The 2025 report highlights the rapid adoption and expanding use cases of USDC, and reflects the growing regulatory clarity for stablecoins, where Circle’s leadership is setting a benchmark for safety and transparency. At the heart of this year’s edition of the report is the vision of an open, programmable internet financial system—one that is faster, cheaper, and inherently global.

The Circle stablecoin network enables financial value to flow with the speed, efficiency, and accessibility of the internet, unlocking significant opportunities for innovation and inclusion. With stablecoins gaining widespread recognition as the breakthrough innovation of crypto and blockchain technology, this report cements Circle’s position as the leading authority in this space.

USDC Momentum:

• USDC circulation grew 78% year-over-year¹, outpacing the growth rate of all other large, global stablecoins
• USDC’s total all-time transaction volume has surpassed $20 trillion, with a monthly transaction volume of $1 trillion in November 2024
• In 2024, Circle became the first major global stablecoin issuer to comply with the European Union’s Markets in Crypto Assets (MiCA) regulation and the first issuer to meet Canada’s new listing rules
• Since 2018, Circle has bridged more than $850 billion between fiat and supported blockchains—acting as a vital conduit for globally systemic important banks, regional banks, payment providers, businesses, and end users to leverage digital dollars for real-time global settlement, with minuscule transaction costs and global accessibility
• Now accessible to more than 500 million end-users through digital wallets and consumer apps, USDC is helping to lead the mainstream adoption of digital dollars
• Binance adopted USDC as a vital stablecoin for its corporate treasury and expanded access for more than 250 million global users, enabling them to trade, save, and transact seamlessly in USDC
• Circle’s Cross-Chain Transfer Protocol (CCTP), which provides seamless interoperability across supported blockchain networks, has now facilitated more than $20 billion in USDC transfers
• USDC empowers unbanked and underbanked populations, providing secure, low-cost access to digital dollars across 180+ countries
• USDC's open technology is currently natively available on 16 different blockchains
• In early October 2024, EURC, USDC’s euro equivalent, became the largest euro-backed stablecoin by total circulation and surpassed $1 billion in weekly transfer volume

Featuring USDC use case studies from some of the world’s leading financial service providers and technology innovators, including Mastercard, MoneyGram, Nubank, Standard Chartered and Zodia Markets, Stripe, and Worldpay, this year’s report highlights USDC’s pivotal role in evolving global finance. From disrupting remittances and cross-border payments to enhancing aid disbursement and providing a stable store of value, USDC is at the forefront of reshaping the financial landscape and advancing global economic resilience.

Jeremy Allaire, Chairman, Co-Founder, and Chief Executive Officer: “This year’s report charts USDC’s evolution into a platform for global prosperity. USDC has become a crucial bridge between traditional and digital finance, enabling real-time, low-cost value exchange that expands economic opportunity on a global scale. Businesses large and small are building innovative products and services with USDC and Circle’s technology, fueling mainstream adoption that will lead to a faster, stronger, and more resilient internet-based financial system."

Dante Disparte, Chief Strategy Officer and Head of Global Policy: “2024 has been defined by several milestones in Circle’s support of global regulatory clarity and integration into the perimeter of the global financial system. Regulators around the world are now enshrining the principles of trust, transparency, and financial integrity that Circle has championed since inception. This progress not only strengthens the regulatory clarity for stablecoins but also ensures that digital dollars like USDC serve as a force for global economic inclusion.”

Visit usdceconomy.com to access and download the 2025 State of the USDC Economy report.

USDC is issued by regulated entities of Circle. A list of Circle’s regulatory authorizations can be found here.

About Circle Internet Group, Inc.

Circle is a global financial technology firm that enables businesses of all sizes to harness the power of digital currencies and public blockchains for payments, commerce and financial applications worldwide. Through its regulated entities, Circle is the issuer of USDC and EURC - highly liquid, interoperable, and trusted money protocols on the internet. Circle’s open and programmable platform and APIs make it easy for organizations to run their internet-scale business, whether it is making international payments, building globally-accessible Web3 apps or managing their internal treasury. Learn more at https://circle.com.

¹January 1, 2024–January 1, 2025. CoinMarketCap. Retrieved from: https://coinmarketcap.com/currencies/usd-coin/