On June 5, 2025, Circle, the issuer of the USDC stablecoin, had a successful listing on the New York Stock Exchange under the ticker "CRCL", marking a significant milestone in the field of digital currencies.

Details of the IPO:

Offer price: The share was priced at $31, exceeding initial expectations which ranged between $24 and $26.

Number of shares sold: 34 million shares, resulting in raising $1.1 billion.

Demand: The offering was oversubscribed by more than 25 times, reflecting strong interest from investors.

Stock performance: Trading opened at $69, peaked at $103.75, before closing at $83.23, an increase of 168% from the offer price.

Importance of the IPO:

This listing is one of the largest public offerings by a company operating in the field of digital currencies since Coinbase's listing in 2021. This move demonstrates significant progress in the acceptance of stablecoins like USDC, which are used in transactions worth over $25 trillion.

Reactions:

Jeremy Allaire, the founder and CEO of Circle, expressed pride in this step, considering it a pivotal moment in the company’s journey. Institutional investors, such as ARK Investment Management, also showed significant interest in the IPO.

Future challenges:

Despite the success, Circle faces competition from companies like Tether and traditional banks entering the digital currency space.