Circle Reports Q3 Growth Driven by USDC Transaction Surge

Circle reported a 17% revenue increase to $865 million and an 85% jump in adjusted EBITDA for Q3, driven by a surge in USDC on-chain transaction volume to $13.9 trillion.

November 9, 2026, 11:07 PM·0 views

Photo: Crypto Briefing

Circle reported its Q3 financial results, showing a 17% year-over-year increase in revenue and reserve income, which reached $865 million. The company's adjusted EBITDA grew by 85% to $317 million, signaling significant margin expansion for the business.

The report highlights a surge in usage for the USDC stablecoin, with on-chain transaction volume rising 49% to $13.9 trillion. The average circulation of USDC during the quarter was $73.3 billion, ending the period at approximately $74 billion.

Market data indicates that USDC accounted for 79% of stablecoin transaction volume, despite representing roughly 27% of the total stablecoin supply. Circle continues to expand its ecosystem through partnerships with major firms including SAP, Visa, and Binance.