USDC Issuer Circle Reports $740M Revenue in Q3, Beating Analyst Forecasts

USDC stablecoin issuer Circle reported $740 million in revenue and reserve income for Q3, surpassing analyst forecasts with a 66% year-on-year increase. "Circle continued to see accelerating adoption of USDC and our platform in the third quarter as we build the new Economic OS for the internet,” said Circle Co-Founder and CEO Jeremy Allaire, in a press release. He pointed to the successful launch of the Arc public testnet in October, with participation from over 100 companies including BlackRock, Visa, G ...