Circle Internet Financial, the issuer of the USDC stablecoin, officially announced its initial public offering, aiming to list its shares on the New York Stock Exchange under the trading symbol "CRCL".

In 2024, Circle reported a net income of $156 million and revenues of $1.68 billion, demonstrating steady financial growth. The company is targeting a valuation between $4 billion and $5 billion for its IPO, a significant decline from the $9 billion valuation it achieved in previous funding rounds.

This move follows Circle's relocation of its global headquarters from Boston to New York City earlier this year, bringing it closer to major financial institutions as it prepares to become a publicly traded company.