Significant Growth in USDC Circulation
USDC in circulation grew 108% year-over-year to $73.7 billion, alongside a 580% increase in onchain transactions to $9.6 trillion, reflecting strong network growth.
Financial Performance and Revenue Growth
Circle reported $740 million in total revenue and reserve income, representing 66% year-on-year growth. Adjusted EBITDA grew 78% year-on-year to $166 million with a 57% margin.
Expansion of Circle Payments Network (CPN)
CPN saw significant growth with 100x increase in trailing 30-day payment volumes and an annualized transaction volume reaching $3.4 billion by early November.
Launch of Arc Public Testnet
Arc launched with over 100 major participants, including AWS, BlackRock, HSBC, Mastercard, and Visa, demonstrating strong interest in Circle’s new operating system layer.
Market Share Gains
Circle's share in the stablecoin market increased to 29% in Q3, with USDC's share in stablecoin transaction volumes expanding to 40%.