The CBC3 is the latest version of the CMS Binary Chip for readout of the outer radial region of the upgraded CMS Tracker at the High Luminosity LHC. This 254-channel, 130 nm CMOS ASIC is designed to be bump-bonded to a substrate to which sensors will be wire-bonded. It will instrument double-layer 2S-modules, containing two overlaid silicon microstrip sensors, aligned with a parallel orientation. On-chip logic identifies Level-1 trigger primitives from high transverse-momentum tracks by selecting correlated clusters in the two sensors. The CBC3 was delivered in late 2016; wafer probing and performance tests have been carried out. Several prototype modules using the CBC3 have been produced and tested in the lab and in different beams. The results show that the CBC3 satisfies CMS requirements and only small corrections are needed for the final version of the chip for production.