Circle Reports Record Q3 as USDC Circulation Tops $73 Billion
Circle reported a standout third quarter as USDC circulation climbed past $73 billion and net income rose more than 200% compared with the year-ago period. The results underscore continued demand for dollar-pegged stablecoins and suggest growing adoption by institutional players and onchain services, reinforcing USDC’s role as a major liquidity vehicle in crypto markets.
Alongside the financials, Circle launched its Arc testnet and dropped a hint about a potential native token, part of a broader push to expand its onchain infrastructure and institutional ecosystem. If realized, a native token could alter Circle’s product mix and governance dynamics, making the outcome one to watch for regulators, exchanges, and institutional counterparties as the firm deepens its crypto footprint.