Circle get USDC Reserve Money $711M for Q3; Dem dey plan to launch Arc Token
Circle don report beta Q3 result wey strong wella as dem growth wey dey focus for USDC don push dia performance. Total revenue climb 66% reach $740 million, while net income sharp increase 202% year-on-year come $214 million. USDC wey dey circulate rise 108% to $73.7 billion, this one boost reserve income to $711 million, wey mean 60% increase. Adjusted EBITDA reach $166 million, e show say operation still dey strong even tho dem get higher distribution and compensation cost. Circle Payments Network don expand go eight countries with 29 banks wey dey participate, and USYC tokenized currency fund get AUM of $1 billion. Circle launch Arc testnet plus plan Arc native token to make network participation better. CEO Jeremy Allaire talk say make dem quicken USDC adoption and push for open, efficient global financial system. William Blair still maintain “Outperform” rating, dem talk say Circle scale and liquidity na main things for this programmable money revolution.
Bullish
Circle strong performance for Q3, dem lead by 108% increase for USDC circulation plus 60% growth for reserve income, show say this stablecoin get strong market demand and issuer financial health. The plan to launch Arc token for their Layer-1 blockchain talk say dem get chance to expand more and make network useful. For short time, these things fit make USDC liquidity and trading volume strong, we fit support price stability. For long time, better scalability and programmable money feature fit make more people use am, e go make market get positive feelings for USDC.