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▲ Circle, USDC, Stablecoin, USD/ChatGPT generated image ©
Global stablecoin issuer Circle recorded an earnings surprise in Q1, demonstrating its overwhelming dominance in the stablecoin market, and is now accelerating the expansion of its next-generation financial ecosystem by combining artificial intelligence (AI) and blockchain infrastructure.
According to investment media FXStreet on May 11 (local time), Circle (CRCL) announced that its total revenue and deposit income in the first quarter of this year increased by 20% year-on-year to $694 million. Of this, deposit income, amounting to $653 million, drove overall growth, and the average circulation of USD Coin (USDC) surged by 39%, solidly supporting the revenue structure. Adjusted EBITDA also increased by 24% to $151 million, demonstrating robust operational efficiency.
USDC, Circle's core asset, surpassed $77 billion in circulation this quarter, growing 28% year-on-year. Notably, on-chain transaction volume recorded an astonishing figure of $21.5 trillion, a 263% surge year-on-year, solidifying its position as a key infrastructure within the digital asset market. Currently, USDC accounts for approximately 63% of global stablecoin transaction volume, and the number of wallets holding more than $10 has increased by 47% year-on-year, showing rapid adoption in both retail and institutional markets.
Remarkable achievements were also made in blockchain infrastructure and AI financial tools, which are future growth engines. Circle issued ARC tokens for its 'Arc' blockchain project, attracting $222 million in investment with a valuation of approximately $3 billion. Prominent Wall Street players such as a16z crypto, Apollo Global Management, Ark Invest, and BlackRock participated in this investment, drawing significant attention. ARC tokens are planned to be used as governance and coordination assets for the Arc blockchain.
Jeremy Allaire, Co-founder and CEO of Circle, commented on these results, stating, "These achievements were made amidst a huge opportunity where AI platforms and economic operating systems are rapidly integrating into a new internet stack." Circle launched the 'Agent Stack' platform to support AI-powered USDC activities and is building a programmable financial application environment, including agent wallets and marketplaces, to lay the foundation for an AI-native economy.
Immediately after the earnings announcement, Circle's stock price surged by more than 16%, climbing to the $132 level. Circle's payment network also grew to an annual transaction volume of $8.3 billion, thanks to partnerships with Kyriba and the decentralized prediction market Myriad. Experts note that Circle is evolving beyond a simple stablecoin issuer into a new financial infrastructure company for the AI era.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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