Circle's USDC transactions increased in the third quarter, while reserve revenue declined
Start here
AI-assisted source synthesis · not an independent investigation.
On November 5, 2026, PYMNTS cited Circle's report on its third-quarter 2026 results, stating that USDC processed $13.9 trillion in on-chain transactions during the quarter, up 49% from the same period a year earlier. During the same period, USDC circulation was approximately $73.9 billion, essentially unchanged; reserve revenue was $658 million, down 8% year over year. These figures show that USDC's on-chain transaction volume continued to grow, but its circulation did not increase significantly in tandem, while reserve revenue declined from the previous period.
AI-written from reports · updated 3 hours ago
Timeline
Follow the reporting to see the different sides of the story.
- PYMNTSSelectedCircle's $13.9 trillion stablecoin paradox: payments increase while profit per dollar declines
Circle's third-quarter 2026 results show that USDC processed $13.9 trillion in on-chain transactions, up 49% year over year, while its circulating supply was roughly $73.9 billion, essentially flat, and reserve income fell 8% to $658 million.
Heat over time
Current heat 9·Peak over the comparable range 10 (Nov 5 01:00)·Change over the comparable range in the last 24 hours –
Trends compare only the same entities that were fully and continuously observed, so the range can be narrower than the current heat statistics. Move the pointer or tap the chart to read hourly heat; arrow keys work on a keyboard.