Circle Q3 revenue hits $865M as Arc goes live, USDC payments grow

Circle Internet Group (CRCL) has reported a 17% rise in third-quarter revenue to $864.9 million, supported by ARC token sales and growing use of USDC. Circle reported $864.9 million in Q3 revenue and reserve income, up 17% year over year, while adjusted EBITDA grew 85% to $317 million. Its $182 million ARC token presale revenue helped offset lower reserve income as interest rates declined. USDC transaction volume climbed 49% to $13.9 trillion, although the stablecoin's market share fell to 27%. Circle Payments Network reached $41.3 billion in annualized payment volume, while Arc launched publicly with more than 100 builders.

Source: crypto.news