Circle's Q3 2026 results show revenue climbing alongside a major token launch and an overseas acquisition
DeFi & Yields ·
The stablecoin issuer posted quarterly revenue and reserve income of $865 million, a 17% increase from a year earlier, alongside a 5% rise in net income from continuing operations to $226 million.
A sizable chunk of that top line came from outside Circle's core stablecoin business: $182 million in other income was tied to the presale of its ARC token, according to wublockchain.xyz. The company confirmed it has finished minting the full genesis allocation of 10 billion ARC tokens, marking the formal launch of the asset into circulation.
USDC itself kept expanding over the quarter, with average circulating supply reaching $73.3 billion, up 8% year-over-year. That growth in outstanding stablecoin supply underpins much of Circle's reserve income and remains the structural driver behind the broader revenue gain.
Beyond the token presale and stablecoin metrics, Circle signed a definitive agreement to acquire Tazapay, a cross-border payments platform, with the deal expected to close in 2027 pending regulatory approval. The move signals an effort to extend Circle's infrastructure into international payment rails rather than relying solely on stablecoin issuance and reserve yield.
The earnings disclosure was paired with news of a 5% workforce reduction, a detail reported by theblock.co alongside the same revenue and ARC presale figures. The juxtaposition of rising revenue with headcount cuts was not explained in the disclosures reviewed, leaving open whether the reduction reflects cost discipline, restructuring tied to the Tazapay deal, or integration plans around the ARC token rollout.
What remains unclear is how the Tazapay acquisition will be financed, what terms accompanied the regulatory approval process, and how the newly minted ARC tokens will be distributed or utilized following the genesis mint. Circle has not detailed the breakdown of its workforce reduction by function or geography, nor clarified whether further earnings from ARC are expected in coming quarters.