Circle's third-quarter revenue reached $865 million. Just how profitable is the stablecoin business?
Many people are still focused on the price and circulation of USDC, but Circle has already provided an answer in its earnings report.
Circle's third-quarter revenue reached $865 million, showing that the stablecoin market is no longer just about trading digital currencies—it's a financial infrastructure business that continues to grow.
Why can Circle earn so much?
The core logic is actually quite simple:
USDC issuance and circulation: More and more users and institutions are using USDC for trading, payments, and fund settlement.
Returns on reserve assets: The funds backing USDC can generate interest income.
Growing market demand: The development of cross-border payments, on-chain finance, and RWA is expanding the scope of stablecoin applications.
This also sends a signal worth noting: competition among stablecoins is no longer just about who can issue more. It's about who can truly become part of payments, finance, and real-world business.
Opportunities in the crypto industry may not lie only in the price movements of BTC and ETH. Stablecoin infrastructure is also worth watching.
#Circle #USDC #circle第三季度营收8.65亿美元
Many people are still focused on the price and circulation of USDC, but Circle has already provided an answer in its earnings report.
Circle's third-quarter revenue reached $865 million, showing that the stablecoin market is no longer just about trading digital currencies—it's a financial infrastructure business that continues to grow.
Why can Circle earn so much?
The core logic is actually quite simple:
USDC issuance and circulation: More and more users and institutions are using USDC for trading, payments, and fund settlement.
Returns on reserve assets: The funds backing USDC can generate interest income.
Growing market demand: The development of cross-border payments, on-chain finance, and RWA is expanding the scope of stablecoin applications.
This also sends a signal worth noting: competition among stablecoins is no longer just about who can issue more. It's about who can truly become part of payments, finance, and real-world business.
Opportunities in the crypto industry may not lie only in the price movements of BTC and ETH. Stablecoin infrastructure is also worth watching.
#Circle #USDC #circle第三季度营收8.65亿美元