#CircleIPO Circle Internet Group Inc. (NYSE: CRCL), the issuer of the USDC stablecoin, made a remarkable debut on the New York Stock Exchange, with shares surging over 168% from the initial offering price of $31 to close at $107.70 on its first trading day.

The IPO raised approximately $1.1 billion, valuing the company at around $6.9 billion. This marks a significant milestone for Circle, following a previous attempt to go public via a SPAC deal in 2022 that was ultimately unsuccessful.

Despite the strong market debut, Circle faces challenges, including potential declines in interest rates that could impact its revenue from USDC reserves, which are primarily held in government money-market funds. Additionally, the company incurs high distribution costs, with a substantial portion of its reserve income paid to partners like Coinbase.

As of June 2025, USDC remains the second-largest stablecoin by market capitalization, trailing only Tether's USDT. Circle's successful IPO positions it as a significant player in the evolving digital currency landscape.