Circle beats Q3 revenue expectations with $864.9M in revenue and USDC minting surges to $104B.
DeFi & Yields ·
Circle delivered third-quarter revenue of $864.9 million, surpassing analyst expectations of $776.7 million. The outperformance was accompanied by a significant surge in USDC minting activity, which reached $104 billion—substantially exceeding the $82.45 billion forecast by analysts.
The stronger-than-expected results reflect elevated demand for Circle's stablecoin infrastructure during the quarter. USDC minting volumes have become a key metric for tracking the company's core business momentum, as the asset continues to compete for market share in the stablecoin landscape.
The beat on both revenue and USDC issuance marks a notable performance in the period, though the underlying drivers of the minting surge and whether this pace is sustainable remain to be clarified in further disclosures or management commentary.