Circle aims to become the central bank of the AI era. While everyone else is chasing opportunities in the AI application layer, Circle has quietly positioned itself in the AI payment infrastructure. On March 10, Circle's stock price broke $110, doubling from its low point earlier this year. The logic from the capital markets is simple: it’s not just in the business of "stablecoins" but also in the business of "AI era settlement networks," which is where the advantage currently lies. 🔸 Financial reports show explosive revenue and validated profitability. Circle's latest quarterly financial report (Q4 2025) showcases astonishing growth momentum: - Revenue: $770 million, a year-on-year increase of 77% - EBITDA: $167 million, a year-on-year surge of 412% - Profit margin: 54%—this is already the profitability level of mature internet companies. - USDC circulation: $75.3 billion, a year-on-year increase of 72% - On-chain transaction volume: $11.9 trillion, a year-on-year increase of 247% More importantly, Circle's market share in stablecoin transaction volume has climbed from 39% to nearly 50%. This means that for every two stablecoin transactions, one is completed using USDC. Behind these numbers is a self-reinforcing business model: the larger the circulation → the higher the reserve income → the higher the profits → the more infrastructure investment → more institutions using USDC. 🔸 AI Agent payments may be an overlooked trillion-dollar track. There is a data point in the financial report that is easy to overlook: in the past 9 months, 400,000 AI Agents completed 140 million USDC payments. What is the average transaction amount? $0.31. This is the core pain point of the AI economy. The traditional payment system may charge more for processing a $0.31 transfer than the transaction itself. Bank wire transfers, credit card settlements—these financial infrastructures designed for humans simply cannot support the massive micro-payments between AI Agents. ...