Circle Internet Group, Inc., has released its third annual report detailing the rapid adoption of USD Coin (USDC) and its impact on the global financial system. The 2025 statistics emphasized USDC’s role in advancing a faster, more accessible, and programmable financial infrastructure as stablecoins gain traction worldwide.
The data highlights USDC’s 78% year-over-year growth in circulation, which has outpaced other major stablecoins. In November 2024 alone, USDC processed $1 trillion in transaction volume, contributing to its all-time transaction volume surpassing $20 trillion. Circle credits this growth to increasing regulatory clarity. Notably, USDC achieved compliance milestones such as the European Union’s Markets in Crypto Assets (MiCA) regulation and Canada’s new listing rules.
Dante Disparte, Chief Strategy Officer and Head of Global Policy at Circle stated: “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.”
???? The 2025 State of the USDC Economy Report is here!
USDC continues to demonstrate its strength as a leading platform for global financial inclusion.
Dive into the highlights from the past year: https://t.co/5H9fcBzqk2
USDC circulation grew 78% year-over-year, outpacing the… pic.twitter.com/31RRgwvYBd— Circle (@circle) January 14, 2025
Circle Milestones and Adoption Highlights
The report underscores Circle’s role in bridging fiat and blockchain systems, with over $850 billion exchanged since 2018. These integrations support banks, payment providers, and businesses in executing real-time global settlements at low costs.
In October 2024, Circle introduced EURC, USDC’s euro-backed counterpart. It became the largest euro-backed stablecoin, surpassing $1 billion in weekly transfer volume. Additionally, Binance adopted USDC for its corporate treasury and expanded access to over 250 million global users.
Interestingly, interoperability has also been a focus for Circle, with its Cross-Chain Transfer Protocol (CCTP) facilitating $20 billion in transfers across 16 blockchains.
Challenges and Future Outlook
While USDC has made significant strides, the report also highlights areas where further adoption and regulatory harmonization are needed. Stablecoins remain under scrutiny by policymakers aiming to balance innovation with financial stability concerns.
Overall, Circle’s report positions USDC as a critical driver of financial modernization, emphasizing its role in enabling faster, cheaper, and more inclusive digital transactions. As stablecoins solidify their place in the monetary ecosystem, USDC’s trajectory appears poised for continued growth.
Corroborating the claims above, Jeremy Allaire, Chairman, Co-Founder, and Chief Executive Officer at Circle, said: “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.”
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