Circle Internet Group, a leading stablecoin issuer, reported its first quarterly earnings since going public in June 2025, posting a 53% year-over-year revenue increase to $658 million in the second quarter. The company reported a net loss of $482 million, primarily due to one-time, non-cash charges related to its IPO. USDC stablecoin circulation reached $61.3 billion at the end of Q2, reflecting a 90% year-over-year growth, and increased further to $65.2 billion by August 10, 2025. Onchain transaction volume for USDC totaled $5.9 trillion during the quarter. Circle also announced plans to launch Arc, an open, EVM-compatible Layer 1 blockchain designed specifically for stablecoin finance. Arc will use USDC as its native gas token and aims to provide enterprise-grade infrastructure for payments, foreign exchange, and capital markets applications. The public testnet for Arc is scheduled to launch between September and November 2025. Following the earnings release and the announcement of Arc, Circle's shares rose by approximately 6% to 11% in premarket and early trading. The company provided guidance for fiscal year 2025, targeting adjusted operating expenses between $475 million and $490 million and a multi-year 40% compound annual growth rate for USDC circulation. Circle's strategic move to develop its own Layer 1 blockchain underscores its ambition to expand its role in the stablecoin ecosystem and financial infrastructure.