The stablecoin issuer said revenue and reserve income increased due to more stablecoins in circulation after its IPO and the passing of the GENIUS Act.

Circle has completed its first quarter as a public company, reporting $658 million in returns on its stablecoin reserves — its main source of profit — while holding onto $251 million of that after distribution costs.

The stablecoin issuer reported a 53% increase in revenue, which rose to $658.1 million from $430 million a year ago, driven by strong growth in stablecoins. Shares of the stock ro