Circle's revenue is growing, but USDC reserve income is under pressure.
Circle (CRCL$73.86) reported mixed Q3 2026 results:
Total revenue: $865M, up 17% YoY.
Net income: $226M, up 5%.
Adjusted EBITDA: $317M, up 85%.
USDC circulation: $73,9B.
On-chain USDC transaction volume: $13.9T, up 49%.
$182M of other revenue came from the ARC$0.0378 token presale.
USDC adoption and transaction activity continue expanding, while lower reserve yields weigh on core reserve revenue.
Circle is also pushing into payments infrastructure through Tazapay and its Arc blockchain.
USDC is growing beyond stablecoins. Circle wants a bigger piece of the payment infrastructure pie.
Circle (CRCL$73.86) reported mixed Q3 2026 results:
Total revenue: $865M, up 17% YoY.
Net income: $226M, up 5%.
Adjusted EBITDA: $317M, up 85%.
USDC circulation: $73,9B.
On-chain USDC transaction volume: $13.9T, up 49%.
$182M of other revenue came from the ARC$0.0378 token presale.
USDC adoption and transaction activity continue expanding, while lower reserve yields weigh on core reserve revenue.
Circle is also pushing into payments infrastructure through Tazapay and its Arc blockchain.
USDC is growing beyond stablecoins. Circle wants a bigger piece of the payment infrastructure pie.
