Core Viewpoint - Circle is expected to report its Q3 2025 earnings on November 12, with market expectations for revenue at $710 million and earnings per share at $0.17, driven by improved regulatory conditions and growing demand for stablecoins like USDC [1] Group 1: Performance Expectations - The anticipated Q3 performance is likely to benefit from the stable growth of USDC, which increased from $61.3 billion at the end of Q2 to $65.2 billion by August 10, 2025 [2] - USDC's on-chain transaction volume reached nearly $6 trillion in Q2, a 5.4-fold increase year-over-year, with July's transaction volume hitting $2.4 trillion [2] - The number of active wallets holding over $10 in USDC grew by 68% year-over-year, indicating increased user engagement [2] Group 2: Product and Market Expansion - New products launched in the past year are expected to drive growth in the upcoming quarterly results, with Circle's payment network operational in Hong Kong, Brazil, Nigeria, and Mexico, attracting interest from over 100 financial institutions [3] - The introduction of Circle Gateway in July 2025 facilitates easier transfers of USDC across different blockchains, enhancing user experience [3] - The launch of Arc, a new Layer-1 blockchain designed for payments and financial applications, is also contributing positively to USDC's growth and usage [3] Group 3: Competitive Landscape - Circle has expanded partnerships with major exchanges like Binance and OKX, promoting the use of USDC and Circle's wallet technology on large trading platforms [4] - Collaborations with payment infrastructure companies such as FIS, Corpay, and Matera are integrating stablecoin technology into the traditional financial system [4] - However, Circle faces intense competition from established players like Coinbase, PayPal, and Fiserv, which are launching their own stablecoin and cryptocurrency services [4]
稳定币龙头Circle(CRCL.US)Q3业绩亮相在即，能否应对PayPal、Coinbase强势围剿？