#CircleIPO

Circle Internet Group, the company behind the popular USDC stablecoin, has made a significant entry into public markets with its initial public offering (IPO) priced at $31 per share. The offering raised approximately $1.05 billion, valuing the company at $6.9 billion on a non-diluted basis and close to $8 billion fully diluted. This surpasses the originally anticipated price range of $27 to $28 per share, indicating strong investor demand and confidence in the firm’s long-term vision.

This IPO marks one of the largest in 2025 and is widely considered the most significant crypto-related public debut since Coinbase’s listing in 2021. Circle’s shares are set to begin trading today on the New York Stock Exchange under the ticker symbol “CRCL.”

The robust demand for Circle’s shares reflects growing institutional appetite for crypto infrastructure and stablecoin services. Analysts see this IPO as a bellwether for the broader digital asset market, signaling increased acceptance and maturity in a sector that has seen both tremendous growth and regulatory scrutiny in recent years.

USDC demand, regulatory momentum support Circle’s entry

Founded in 2013, Circle is best known as the issuer of USDC (USD Coin), a dollar-pegged stablecoin widely used across decentralized finance (DeFi), centralized exchanges, and digital payments. USDC currently holds a market capitalization exceeding $61 billion, making it the second-largest stablecoin behind Tether (USDT). The company also issues EURC, a euro-pegged stablecoin aimed at expanding Circle’s reach in global markets.

Circle’s revenue is largely driven by interest earned on reserves backing its stablecoins, a business model that has proven resilient even during volatile market conditions. In 2024, the company posted revenue of $1.76 billion and net income of $155 million, demonstrating both profitability and scalability.