#CircleIPO

🚨 Circle’s IPO Raises $1.1B, Valuing the Stablecoin Issuer at $6.9B

Circle Internet Group, the company behind the USDC stablecoin, has successfully raised $1.1 billion in its initial public offering (IPO). The company sold 34 million shares at $31 each, surpassing its original target of $896 million. This pricing gives Circle a market valuation of approximately $6.9 billion based on outstanding shares, with a fully diluted valuation around $8.1 billion.

The IPO was significantly oversubscribed, indicating strong investor interest. Major financial institutions such as J.P. Morgan, Citigroup, and Goldman Sachs served as underwriters for the offering. Notably, investment firms like ARK Invest and BlackRock have shown interest in acquiring substantial portions of the shares.

Circle’s USDC is currently the second-largest stablecoin by market capitalization, with over $61 billion in circulation as of late May. The successful IPO underscores the growing acceptance of stablecoins in the traditional financial markets and could pave the way for increased regulatory clarity in the sector.

This development marks a significant milestone for the cryptocurrency industry, highlighting the increasing integration of digital assets into mainstream finance.