Circle’s revenue rose to $694 million
Circle Internet Group saw its revenue climb 20% year over year to $694 million.
The company’s earnings declined 15% to $55 million, or $0.21 per share, but investor optimism was lifted by higher stablecoin margins.
The company’s flagship stablecoin ended the first quarter with $77 billion in circulation, a 28% increase from a year earlier.
Circle’s stablecoin margins grew, signaling less dependence on third-party platforms like crypto exchanges.