In the third quarter, USDC accounted for 79% of Circle's transaction volume, and CPN's annualized payment volume exceeded $58 billion.

Circle released its Q3 financial report, showing that USDC accounted for 79% of total stablecoin trading volume, with on-chain transaction volume reaching $13.9 trillion, a year-on-year increase of 49%. USDC minting and redemption totaled approximately $208 billion in the quarter, a record high; the reserve return rate was 3.54%. The payment network CPN had an annualized payment volume of $41 billion at the end of the quarter, which has now exceeded $58 billion, with 205 financial institutions connected. The Arc mainnet launched on September 16 and has 11 founding validators and over 100 applications.