$USDC em report to COINTELEGRAPH reports:

Circle files for IPO planned for April

The issuer of the USDC stablecoin, Circle, filed for an initial public offering at the end of April on the New York Stock Exchange under the symbol “CRCL”.

The crypto stablecoin issuer Circle Internet Group filed with the U.S. Securities and Exchange Commission (SEC) to go public on the New York Stock Exchange.

The issuer of USDC

USDC

R$ 5.68

plans to list its Class A common stock under the symbol “CRCL”, according to its Form S-1 registration filed with the SEC on April 1.

Circle's prospectus does not detail the number of shares to be offered or the target price of its initial public offering.

The document also revealed that Circle raised $1.67 billion in revenue in 2024, a 16% increase compared to the previous year.

Its net profit last year was $155.6 million — a 41.8% decline compared to 2023, while 2022 recorded a net loss of $761.7 million.

The document also revealed that Circle paid nearly $908 million in 2024 to its main distribution partner, Coinbase, for the circulation of USDC on its exchange.

The high cost means that Coinbase is making more money from USDC than Circle, noted Agora's CEO, Nick van Eck on X.