Stablecoin giant Circle surpassed expectations for second-quarter revenue in its maiden quarterly results since going public, sending its shares up 5% on Tuesday.

Circle Internet Group shares jumped Tuesday after reporting its first quarterly earnings as a publicly listed company. 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.

Circle Internet Group shares surged Tuesday as its first financial report since its initial public offering came in better than expected on growing use of the USDC stablecoin.