Circle Q3 revenue hits $740m, USDC circulation nears $74b

Circle, a prominent issuer of the USDC stablecoin, reported a significant third-quarter revenue of $740 million, marking a 66% increase compared to the previous year. This growth is attributed to the more than doubling of USDC's circulation, which has now reached nearly $74 billion. The surge in revenue and circulation underscores the increasing adoption and reliance on stablecoins in the cryptocurrency market, highlighting Circle's expanding role in this sector.