Circle, the issuer of the USDC stablecoin, has officially filed for an IPO, aiming to list on the NYSE under the ticker "CRCL." This move marks a significant step for the crypto industry, positioning USDC as the first major stablecoin from a publicly traded company. Backed by JPMorgan and Citi, Circle’s filing reveals a 2024 net income of $156.9 million, down from $271.5 million in 2023, reflecting a volatile market. With a $60 billion market cap for USDC, Circle is capitalizing on growing DeFi and trading activity. As stablecoin legislation advances, this IPO could reshape crypto’s mainstream adoption—though competition from PayPal and Ripple looms large.
