Circle Beats Q2 Adjusted Earnings Expectations, USDC Circulation Reaches $73.3 Billion

Odaily News Circle, a stablecoin issuer, beat expectations with adjusted earnings in Q2, with shares rising approximately 10% in pre-market trading. During the same period, USDC circulation grew 19% year-over-year to $73.3 billion, while revenue slightly missed market expectations.

Circle stated that its on-chain transaction volume increased 151% year-over-year to $14.8 trillion, indicating increased institutional usage. The company also disclosed progress on the Arc blockchain network and the Circle Payments Network.