Circle explores native token for Arc network as Q3 shows sharp growth in USDC supply, profits
Circle is exploring a native token for its Arc blockchain amid significant Q3 growth in USDC circulation and profitability.Summary
Circle announced it is exploring the possibility of launching a native token for its Arc blockchain as part of a broader strategy to advance programmable finance onchain. This announcement coincided with the release of its third-quarter earnings, which demonstrated substantial growth. Total revenue and reserve income reached $740 million (up 66% year-over-year), and net income surged by 202% to $214 million. USDC in circulation grew by 108% year-over-year, ending the quarter at $73.7 billion. Furthermore, Circle highlighted the expanding traction of its Circle Payments Network and the growth of its tokenized money market fund, USYC. Industry analysts view USDC favorably, noting its regulated backing and institutional adoption, with some projecting its supply could triple by 2027, capturing one-third of the stablecoin market.
(Source：The Block)