#CircleIPO Stablecoin issuer Circle will list on the New York Stock Exchange (NYSE) today. It has expanded its stock offering for a second time and also raised the maximum offer price to $31. Circle and existing investors had planned to sell a combined maximum of 36.8 million shares but they expanded that by 2.3 million yesterday, including an underwriter’s option to buy 5.1 million. That means that the company and investors will raise up to $1.2 billion, which would give the company a market capitalization of just over $7 billion. Amid this good news there is a surprising finding that the company’s Chief Financial Officer, has chosen to cash out three quarters of his stock.

Circle is the second largest stablecoin issuer with its USDC having an issuance of $61.5 billion compared to market leader Tether with $153.7 billion. Currently these are the two dominant players, but they have very different market positions. Circle wants USDC to be onshore and regulated, whereas Tether is currently offshore and has withdrawn from the EU.