#CircleIPO

Circle Internet Group, the issuer of the stablecoin USDC, launched its initial public offering (IPO) on the New York Stock Exchange under the symbol CRCL at a price of $31 per share, surpassing expectations. The company raised approximately $1.1 billion with a market valuation of nearly $6.8 billion. Circle was founded in 2013 and manages USDC, the second-largest stablecoin with a market value of around $62 billion, used in digital trades with cash reserves ensuring its value stability. The offering aims to enhance transparency and credibility in the field of digital currencies amid a changing regulatory environment.