In a recent financial statement on Circle’s (CRCL) third-quarter (Q3) performance, the stablecoin giant saw tremendous increase in key metrics, exceeding Wall Street estimates.

Circle’s Financial Disclosures

According to the financial disclosures made public by the firm on Wednesday, Circle’s Reserve Income surged to $711 million, marking a substantial 60% year-over-year increase, primarily fueled by a 97% surge in the average USDC in circulation.

Furthermore, the financial report revealed that “other revenue” climbed to $29 million, exhibiting a notable $28 million increase year-over-year, on the heels of continuous growth in subscription and services revenue, alongside transaction revenue.

On the expenditure front, total distribution, transaction, and other costs escalated to $

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