#CircleIPO Circle Internet Group, the company behind the USDC stablecoin, has successfully completed its Initial Public Offering (IPO) on the New York Stock Exchange under the ticker "CRCL."

The IPO was priced at $31 per share, exceeding earlier expectations and reflecting strong investor demand. Circle and existing stockholders sold a combined 34 million shares, raising approximately $1.05 billion to $1.1 billion. This values the company at around $6.9 billion to $8 billion on a fully diluted basis.

The IPO was significantly oversubscribed, with demand reportedly exceeding available shares by 25 times, indicating high investor confidence. This is a crucial event for the crypto industry, validating the stablecoin market and showcasing a more positive regulatory environment in the U.S. It also sets a benchmark for future crypto firms considering public listings.

Circle's business primarily revolves around the USDC stablecoin, generating revenue from interest on its reserves (mainly U.S. Treasury bonds) and platform services. In 2024, the company reported $1.68 billion in revenue and a net income of $155 million.