#CircleIPO Circle Internet Financial, the issuer of the USDC stablecoin, is set to go public on the New York Stock Exchange (NYSE) under the ticker symbol "CRCL" on Thursday, June 5, 2025. This marks the largest crypto-related IPO since Coinbase's debut in 2021.
Initially, Circle planned to offer 24 million shares priced between $24 and $26, aiming to raise approximately $600 million. However, due to strong investor demand, the company has increased the offering to 32 million shares with a price range of $27 to $28. At the midpoint of this range, Circle would raise around $880 million, valuing the company at approximately $7.2 billion.
The IPO is underwritten by major financial institutions, including J.P. Morgan, Citigroup, and Goldman Sachs. Notably, investment firms such as BlackRock and ARK Invest are backing the launch, with ARK Invest reportedly committing to purchase $150 million worth of shares.
Circle's decision to go public comes amid a broader resurgence in the IPO market, with several fintech companies embracing public listings at valuations more aligned with current market realities. This trend indicates a shift from the inflated valuations seen during the zero-interest-rate policy era.
In terms of financial performance, Circle reported a profit of $64.8 million on $578.6 million in revenue for the first quarter of 2025. The company faces competition from Tether, whose USDT stablecoin has a larger market capitalization. However, Circle's strong financials and strategic partnerships position it favorably in the stablecoin market.
Additionally, Circle has established a partnership with Binance, formalized in December 2024, under the "Stablecoin Ecosystem Agreement." This agreement designates Binance as a key partner in promoting USDC utilization.
Circle's IPO is a significant milestone for the integration of blockchain-based financial services with traditional finance, reflecting growing investor interest in regulated, stable crypto assets. $TAO
