#CircleIPO Circle Internet Financial, the issuer of the USDC stablecoin, has recently filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC). The company plans to list its shares on the New York Stock Exchange under the ticker symbol "CRCL."

In its SEC filing, Circle reported a net income of $156 million on revenue of $1.68 billion for the year 2024. This marks an increase in revenue from $1.45 billion in 2023, though net income decreased from $268 million in the previous year.

The company is reportedly seeking a valuation between $4 billion and $5 billion for its IPO, a decrease from the $9 billion valuation it achieved in a prior funding round. Circle has enlisted major financial institutions, including J.P. Morgan, Citi, Barclays, Deutsche Bank, and Societe Generale, as joint bookrunners for the offering.

This move comes after Circle's earlier attempt to go public via a special purpose acquisition company (SPAC) merger was unsuccessful. The IPO is expected to enhance Circle's position in the global stablecoin market, potentially reshaping competitive dynamics and influencing regulatory discussions surrounding stablecoins.

The exact timing of the IPO has not been disclosed, but reports suggest that Circle aims to launch the offering by June 2025.