Circle's Q2 Adjusted Profit Beats Expectations, USDC Circulation Reaches $73.3 Billion

Odaily News Circle, a stablecoin issuer, saw its adjusted profit for the second quarter exceed expectations, 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 growing institutional usage. The company also disclosed progress on its Arc blockchain network and Circle Payments Network.