Circle Internet Group, the issuer of USDC, has been experiencing significant growth in Q3, beating earnings estimates with their net income rising 202%, reaching $214M. They've reported a revenue of $740M, a 66% increase from previous quarters. USDC supply is surging, with recent data indicating a circulation of about $73.7B. Despite this growth, Circle’s stock has seen a decrease, with a 9% plunge although financial performance has been strong. Circle is perceived as innovative, reportedly exploring the launch of a native token for the Arc network. In terms of partnership announcements, Visa is closely associated with USDC, running pilots to allow users to receive payouts in the stablecoin. The offering was branded as a 'breakthrough', presenting alternatives for digital payments, particularly among the gig economy and creators, as well as facilitating instant cross-border transactions. Yet, the entry of Coinbase into the scene with its recent business launch in Singapore using USDC for reshaping payments has posed competition.
JPMorgan leaning towards Circle's USDC over Tether's USDT due to better onchain growth also sparks more speculation on its growth trajectory. Moreover, the company recently allowed the use of USDC for legal firearm transactions, which can be seen as an attempt to gain wider acceptance in the mainstream economy. Even so, the future impact of these scenarios on USDC's price is uncertain.
USDC Coin News Analytics from Fri, 07 Feb 2025 08:00:00 GMT to Wed, 12 Nov 2025 21:49:18 GMT -
Rating 5
- Innovation 7
- Information 9
- Rumor -2
