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Circle shares jump 10% in pre-market trading as Q2 earnings beat estimates, Arc blockchain gains Wall Street backing including BlackRock and DTCC
The stablecoin issuer reported adjusted earnings of 18 cents per share, exceeding analysts' consensus of 16 cents, despite revenue of $701 million slightly missing forecasts. Circle's Arc blockchain network, set to launch its public mainnet on September 16, announced over 100 ecosystem and institutional builders, with founding validators including BlackRock, DTCC, ICE, Mastercard, Visa, and Standard Chartered. BlackRock plans to deploy its BUIDL tokenized U.S. Treasury fund on Arc, while DTCC is working on infrastructure to tokenize securities.
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