Circle reported revenue and reserve income of $865 million in the third quarter, up 17% year over year. Its adjusted EBITDA increased by 85% to $317 million. USDC’s on-chain transaction volume surged 49% to $13.9 trillion, while its average circulation reached $73.3 billion. USDC handled 79% of stablecoin transaction volume despite representing only about 27% of total supply. Circle also expanded its partnerships with SAP, Visa and Binance, spanning enterprise software, card payments and cryptocurrency trading markets.
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