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USDC Issuer Circle Reports $740M Revenue in Q3, Beating Analyst Forecasts

Circle, the issuer of USDC, reported a remarkable revenue of $740 million for Q3, surpassing analyst expectations of $708.92 million and representing a 66% year-on-year increase. The company's CEO, Jeremy Allaire, highlighted the growing adoption of USDC and the success of their new initiative, the Arc public testnet, which included participation from over 100 companies such as BlackRock and Visa. This growth reflects the significant momentum behind Circle's vision of a more open and inclusive economic system. The company's projected total revenue for the year stands at $2.68 billion, despite some volatility in its stock price, which has fluctuated since its public launch on the NYSE.

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