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. Summary 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. Circle reaffirmed its $400 million agreement to acquire Tazapay and disclosed a workforce reduction of approximately 5%. In its November 4 earnings release, the stablecoin issuer reported $226 million in net income from continuing operations, up 5% from a year earlier. Adjusted EBITDA reached $317 million, an 85% increase, while USDC onchain transaction volume climbed 49% to $13.9 trillion. The results cover Circle’s first quarter with its Arc blockchain operating on public mainnet, alongside increased payment activity and new financial partnerships. Ci...