$USDC #news
Circle goes public: a new stage for the stablecoin market
Circle, the issuer of the USDC stablecoin, has officially filed for an IPO on the New York Stock Exchange (NYSE) under the ticker CRCL. This marks an important step not only for the company itself but also for the entire cryptocurrency market.
Circle earns from managing USDC reserves, and in 2024 its revenues amounted to $1.7 billion. However, nearly a billion dollars of this amount was paid to Coinbase for the distribution of USDC. Despite this, USDC remains the second most popular stablecoin after USDT.
Circle's attempt to go public via SPAC in 2021 failed, but now the company is returning with a new strategy. A successful IPO could enhance trust in stablecoins, attract institutional investors, and set new standards for transparency in the industry.
The question is how the market will react to the public status of a company that is almost entirely dependent on interest income from its reserves.
