#CircleIPO Circle Internet Group, the company behind the USDC stablecoin, has successfully launched its initial public offering (IPO) on the New York Stock Exchange under the ticker symbol CRCL. The IPO was priced at $31 per share, exceeding the anticipated range of $27–$28, and raised approximately $1.05 billion through the sale of 34 million shares. This pricing gives Circle a valuation of approximately $6.8 billion, potentially rising to nearly $8 billion when accounting for additional financial instruments.

Founded in 2013, Circle is a fintech company known for issuing the USDC stablecoin, which is pegged to the U.S. dollar. USDC is the second-largest stablecoin by market capitalization, trailing only Tether's USDT. Circle's revenue has grown significantly, with the company reporting $1.7 billion in revenue and reserve income in 2024, compared to just $15.4 million in revenue in 2020. It had net income of $155.7 million in 2024, versus net income of $267.6 million in 2023, and a net loss of $768.8 million in 2022.

The IPO comes amid a shift in U.S. crypto regulatory outlook under President Donald Trump, promising a friendlier environment for crypto firms. A proposed Congressional bill, the GENIUS Act, aimed at regulating stablecoins, could further benefit Circle. The offering was underwritten by prominent financial institutions including J.P. Morgan, Citigroup, and Goldman Sachs.

Circle's successful IPO is seen as a significant milestone for the crypto industry, potentially paving the way for more crypto-focused public offerings. Companies like Ledger, Kraken, and ConsenSys have expressed interest in going public, and Circle's debut may inspire them to pursue listings of their own.