Circle Beats Q3 Estimates as Arc Mainnet Goes Live With 100+ Partners

Circle beat third-quarter earnings estimates as its Arc public mainnet launched with more than 100 partners, pairing growth in its stablecoin business with a new infrastructure milestone. Circle Internet Group recorded total revenue and reserve income of $865 million, up 17% year over year. Net income from continuing operations was $226 million, while adjusted EBITDA rose 85% to $317 million. A $182 million ARC token presale accounted for much of the increase in other revenue. Average USDC circulation grew 8% to $73.3 billion, and on-chain transaction volume climbed 49% to $13.9 trillion.