Recently, well-known stablecoin issuer Circle shared its latest quarterly financial report with the public. Overall, the company's various business sectors continue to show steady growth.
In terms of core financial metrics, the company generated total revenue of $690 million this quarter, marking a 20% increase compared to the same period last year. Despite the impressive revenue performance, its net profit has seen a slight decline, recording a net profit of $55 million this quarter, which is a 15% drop year-over-year. Meanwhile, the market demand for USDC remains incredibly strong. According to the data disclosed in the financial report, the total circulating supply of USDC stablecoins has surged to $77 billion, reflecting a significant 28% increase compared to the same time last year.
In terms of core financial metrics, the company generated total revenue of $690 million this quarter, marking a 20% increase compared to the same period last year. Despite the impressive revenue performance, its net profit has seen a slight decline, recording a net profit of $55 million this quarter, which is a 15% drop year-over-year. Meanwhile, the market demand for USDC remains incredibly strong. According to the data disclosed in the financial report, the total circulating supply of USDC stablecoins has surged to $77 billion, reflecting a significant 28% increase compared to the same time last year.