Circle, USDC stablecoin issuer, exceeded Q3 revenue expectations with $740 million, a 66% YoY increase. Co-Founder Jeremy Allaire credited accelerating USDC adoption. Arc testnet launch saw 100+ participants like BlackRock and Visa. Circle considers launching a native Arc token. Analysts predict $2.68 billion revenue for 2021.

Since NYSE debut in June, Circle’s market cap grew from $61B to nearly $76B. Analysts forecast $708.92 million Q3 revenue and 17 cents per share earnings. Despite optimism, share price fell to $94.04 pre-market. Mixed Q2 report included 53% revenue increase, $4.48 per share net loss, and plans for L1 blockchain Arc.

Read more at Yahoo Finance: USDC Issuer Circle Reports $740M Revenue in Q3, Beating Analyst Forecasts