Circle has completed its first quarter as a public company, reporting $658 million in returns on its stablecoin reserves — its main source of profit — while holding onto $251 million of that after distribution costs.

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 (CRCL), the stablecoin issuer that has seen a meteoric rise since its IPO in June, will report quarterly results on Tuesday for the first time since going public.  The stock is up more than 400% from its IPO price of $31 per share as crypto-friendly legislation has lifted the sector.