Circle Internet Group (CRCL), one of the largest U.S. stablecoin issuers, posted stronger-than-expected results, sending its stock higher and fueling buying in domestic stablecoin-related names. Hexa Financial (234340) rose 19.49% to 27,900 won as of 9:56 a.m. on the day. This uptick is tied to confirmed demand for Circle’s flagship stablecoin USDC, with Hexa Financial pursuing USDC-based payments and real-time settlement infrastructure, riding a disintermediation and real-time settlement theme.
Circle reported fourth-quarter revenue of $770 million, up 77% year over year, beating expectations, with adjusted EBITDA of $167 million. The stock surged roughly 35% in a single session after the results.
Analysts say the results signal resilient real-world demand for stablecoins like USDC even during the crypto downturn. Because much of Circle’s revenue comes from returns on USDC reserve assets such as U.S. Treasuries, expanding USDC circulation and trading could amplify earnings leverage.
This momentum has spilled over into domestic related stocks. Hexa Financial recently joined Circle’s Circle Payments Network (CPN) as the first domestic company, advancing automated 24/7 settlement and cross-border payments infrastructure using USDC.
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