Circle beats estimates as USDC transaction growth lifts third-quarter revenue
Stablecoin issuer Circle reports stronger third-quarter results as rising activity in USDC supports revenue growth and profitability. The company also records restructuring costs tied to a 5% workforce reduction, alongside updates on its Arc blockchain, the planned Tazapay acquisition and a Binance investment.
Highlights
- Circle's net income from continuing operations rose 5% year over year to $226 million in Q3, with revenue of $778 million exceeding expectations by over 11%.
- Onchain USDC transaction volume surged 49% to $13.9 trillion, and total revenue plus reserve income climbed 17% to $865 million, driven by increased stablecoin usage.
- Key Q3 developments include the Arc blockchain's mainnet launch, $182 million ARC presale revenue, the Tazapay acquisition agreement, and a $100 million Binance investment.
Third-quarter results and operating changes
As reported by CoinDesk, Circle says net income from continuing operations rises 5% year over year to $226 million in the third quarter, while the company takes a $9.1 million restructuring charge linked to layoffs.Circle says the 5% reduction in headcount is designed to better align its organizational structure with its operating model. The company posts adjusted earnings per share of 84 cents, well above analysts' forecast of 37 cents, and reports revenue of $778 million, topping expectations by more than 11%.
Total revenue and reserve income increase 17% to $865 million in the quarter. The performance is supported in part by stronger activity around USDC, Circle's flagship stablecoin.
Crypto platform expansion and sector implications
Onchain transaction volume for USDC grows 49% to $13.9 trillion, underscoring the scale of payment and settlement activity tied to the token. Circle also says $182 million of revenue comes from the private presale of ARC, the native token of its Arc blockchain.The company highlights the public mainnet debut of Arc, the agreed acquisition of Singapore payments network Tazapay and a $100 million investment from cryptocurrency exchange Binance as key developments in the quarter. Together, those moves point to a broader push to expand Circle's infrastructure, payments reach and strategic backing within the digital assets sector.
Our earlier article on the surge in third-quarter cybersecurity and privacy funding noted that total capital rose sharply to $6.8 billion as investors concentrated money into fewer, larger late-stage rounds. We also highlighted how AI-driven and identity security deals, alongside big-ticket M&A such as Visa’s BioCatch purchase, pointed to accelerating consolidation even as overall transaction counts fell.
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