Circle posts strong 7% revenue growth

• Circle’s second-quarter revenue and reserve income increased 7% to $701 million.
• Net income reached $48 million, while Circle shares gained 5.0% in premarket trading.
• Circle plans to launch the Arc public mainnet on September 16 with more than 100 institutional and ecosystem builders.

Circle Internet Group (NYSE:CRCL) reported second-quarter revenue and reserve income of $701 million, up 7%, as USDC activity expanded.

Revenue increased from $658.1 million, while USDC circulation rose 19% to $73.3 billion and transaction volume climbed 151%.

Net income reached $48 million, improving by $530 million, while adjusted EBITDA increased 8% to $143 million.

Circle said Arc will launch publicly on September 16.

Meanwhile, Circle Payments Network reached $14.7 billion in annualised transaction volume and enrolled 175 financial institutions by quarter-end.

The company received federal and New York trust approvals while expanding USDC services with BNY, Standard Chartered, Nium, JCB and other institutions.