#CircleIPO # Circle IPO: Overview

Circle, the issuer of the USDC stablecoin, has launched an initial public offering (IPO) on the New York Stock Exchange under the symbol "CRCL". This offering represents a significant step towards the adoption of digital currencies in traditional financial markets.

*Offering Details*

- *Number of Shares*: 34 million Class A shares of common stock.

- *Share Price*: $31 per share.

- *Total Value*: The company aims to raise over $1.05 billion, giving it an estimated valuation of about $8.06 billion.

*Uses of USDC*

USDC is a stablecoin pegged to the value of the US dollar at a 1:1 ratio, and is used for:

- *Payments*

- *Lending*

- *Money Transfers*

- *Decentralized Finance (DeFi)*

- *Financial Settlements*

*Company Financial Performance*

- *Interest Revenue*: Circle derives most of its revenue from interest earned on the reserve assets backing USDC.

- *Expansion*: The company aims to expand the uses of USDC through partnerships with financial institutions and providing tools for international payments.

*Investors and Investment Banks*

- *Investment Banks*: Major investment banks managing the offering include J.P. Morgan, Citigroup, and Goldman Sachs.

- *Notable Investors*: ARK Investment Management, led by Cathie Wood, has expressed interest in purchasing $150 million worth of shares. ¹ ² ³$USDC