Circle Expands IPO Amid Strong Demand; BlackRock Eyes 10% Stake
Circle Internet Group, the issuer of the USDC stablecoin, has increased its initial public offering (IPO) to 32 million shares, priced between $27 and $28 each, aiming to raise approximately $880 million. This move reflects growing investor confidence in regulated crypto infrastructure.
In a significant development, BlackRock plans to acquire a 10% stake in Circle, signaling robust institutional support for USDC.
USDC currently holds a market capitalization of $61.07 billion, with a 24-hour trading volume of $9.37 billion, underscoring its stability and liquidity.
Circle's IPO marks the first major stablecoin issuer listing on a U.S. exchange, setting a precedent for transparency and regulatory compliance in the crypto industry.
This landmark IPO could pave the way for broader acceptance of stablecoins in mainstream finance.
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