#CircleIPO Circle Internet Group, the issuer of the stablecoin USDC, announced the success of its initial public offering (IPO) on the New York Stock Exchange under the ticker symbol CRCL, raising approximately $1.05 billion by selling 34 million shares at a price of $31 per share, exceeding previous expectations that ranged between $27 and $28 per share.
🔍 Key information about the offering:
Listing date: June 5, 2025
Ticker symbol: CRCL
Initial market value: approximately $6.9 billion, with a diluted valuation reaching $8.1 billion
Key underwriters: J.P. Morgan, Citigroup, and Goldman Sachs
💰 Circle's financial performance:
Q1 2025 revenue: $578.57 million
Net income: $64.79 million
2024 revenue: $1.7 billion, compared to $15 million in 2020
🌐 About USDC:
Market value: approximately $61.5 billion
Number of active wallets: 4.9 million
Total transactions since launch: over $25 trillion
📈 Offering indicators:
Investor confidence: strong demand for shares shows increasing confidence in stablecoins as part of the future financial infrastructure.
Clearer regulation: The offering comes amid U.S. legislative efforts to regulate the cryptocurrency market, enhancing the credibility of companies operating in this field.
Increasing competition: Circle faces competition from Tether and traditional banks that have started to enter the stablecoin space.