$USDC Company known for the cryptocurrency USDC exceeds expectations in IPO, raising $1.1 billion and reaching a valuation of $18 billion in its first session on the NYSE
Jeremy Allaire, CEO and co-founder of Circle Internet Group, issuer of one of the largest stablecoins in the world, reacts to the price of the first trade on the day of the company's IPO on the New York Stock Exchange (NYSE) in New York City, USA, on June 5, 2025. REUTERS/Brendan McDermid
Circle Internet Group debuted on Thursday (5) on the New York Stock Exchange with a 124% increase in its shares on the very first day of trading. The company raised nearly $1.1 billion in its initial public offering (IPO), surpassing market estimates.
The shares opened at $69.50, more than double the $31 price set in the IPO—above the expected range of $27 to $28. Shortly thereafter, the stock rose to $103.75 and trading was halted several times due to high volatility. At 3:03 PM, Circle's stock was quoted at $92.32, up 196.8%. With this, Circle became valued at nearly $18 billion.
Circle is a financial technology company specialized in cryptocurrencies. It is the issuer of USDC, a type of crypto asset known as a stablecoin—a digital currency pegged to the value of a traditional currency, such as the dollar. USDC is the second largest stablecoin in the world by market value, after Tether (USDT), which in turn is the most popular cryptocurrency in Brazil. In addition to USDC, Circle also issues the stablecoin EURC, denominated in euros. These currencies are used to provide greater stability in transactions involving crypto assets, increasingly adopted by companies and financial institutions.