Circle stock pops 30% on earnings beat as Allaire says USDC transactions now near 50% share
The Block
Circle's stock surged 30% after an earnings beat and CEO Allaire reported USDC transactions nearing 50% of Visa's stablecoin volume.Summary
Circle Internet Group's (CRCL) shares jumped roughly 30% following a strong fourth-quarter earnings report and optimistic growth targets for its stablecoin, USDC. The company reported $770 million in revenue, a 77% year-over-year increase, and anticipates a 40% compound annual growth rate for USDC circulation. CEO Jeremy Allaire highlighted a significant increase in USDC transaction volume, now accounting for approximately 50% of stablecoin transactions on Visa, up from over a third in the previous quarter. Allaire emphasized USDC's growing utility in payments and financial infrastructure, suggesting stablecoins are durable businesses with consolidating network effects.
(Source：The Block)