Circle posted a strong Q3 with USDC supply exceeding $73 billion and net income up over 200% year-over-year. The company also launched its Arc testnet and signaled the possibility of a native token as it scales onchain and institutional offerings.
Kalshi has selected Coinbase Custody to hold its USDC reserves, bolstering the infrastructure behind U.S. event-based trading. The move aims to strengthen security, compliance and market confidence for the regulated prediction market.
Circle shares slid to $85 even after beating estimates and reporting a record third quarter. Bernstein analysts say fundamentals remain intact and highlight USDC's "Prime Network" as a competitive advantage.
Peter Schiff renewed his critique of crypto after Circle's stock (CRCL), tied to USDC issuer Circle, plunged about 71% from its IPO level. The drop has become a focal point in debates over confidence in stablecoin issuers and crypto-linked equities.
Visa has started trials that let U.S. businesses pay in fiat while recipients receive USD-backed USDC stablecoins, aiming to accelerate cross-border and same-day payouts. The pilot reflects growing interest from major payment networks in tokenized dollars.
Coinbase is rolling out Coinbase Business in Singapore through a partnership with Standard Chartered, enabling startups and SMBs to make fast USDC payments, settle internationally, and access crypto finance tools. The tie-up aims to link bank rails with on-chain flows to lower friction for cross-border commerce.
Revolut announced users can now convert U.S. dollars to Tether’s USDT and Circle’s USDC at a 1:1 rate with “no spreads” and straight price-matching, though fees may apply above set volume limits.
Circle said it delivered record Q3 growth as USDC circulation roughly doubled year‑over‑year, while the firm explores a new token launch and expands its payments network globally. The developments reinforce USDC's role in payments and DeFi amid evolving market dynamics.
Circle says USDC in circulation reached $73.7 billion and reported Q3 profit tripled, signaling stronger demand for stablecoins. More than 100 firms, including BlackRock and Goldman Sachs, joined Arc Network’s public testnet in October, highlighting rising institutional interest.
William Blair reiterated an outperform rating on Circle (CRCL) after the company's third-quarter results topped both the bank's and Wall Street estimates, reinforcing momentum behind USDC. The move underscores renewed investor confidence in Circle's growth trajectory.