Circle: USDC Accounts for 79% of Stablecoin Transaction Volume, CPN Annualized Payment Volume Now Tops $58B

November 4: According to Circle's earnings call and third-quarter financial results, USDC accounted for 79% of total stablecoin transaction volume in the third quarter, up from 66% in the same period last year; USDC on-chain transaction volume was $13.9 trillion, up 49% year over year; USDC minting and redemptions totaled about $208 billion for the quarter, a record high; the reserve return rate was 3.54%, down 61 basis points year over year. Payments network CPN had annualized payment volume of $41 billion at quarter-end, up about 15x year over year, and has now surpassed $58 billion, with 205 financial institutions onboarded. The Arc mainnet launched on September 16, with 11 founding validators and more than 100 applications. Circle maintained its full-year 2026 guidance: other revenue of $310 million to $330 million (including ARC token presale revenue), an RLDC margin of 41.7% to 43.7%, and adjusted operating expenses of $570 million to $585 million.