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.

Circle Internet’s stock surges as investors shrug off a one-time quarterly loss and focus on a big jump in revenue and stablecoins in circulation.

Circle Internet (CRCL) stock climbed 7.9% in Tuesday premarket trading after the digital currency-focused fintech behind USCoin (USDC-USD) posted stronger-than-expected Q2 revenue as interest in stablecoins increases.