#CircleIPO Circle Internet Group, the company behind USD Coin (USDC), a digital dollar pegged 1:1 with the US dollar, has completed its initial public offering (IPO). Here are the key details ¹ ² ³:

- *IPO Details:*

- *Ticker Symbol:* CRCL

- *Exchange:* New York Stock Exchange (NYSE)

- *IPO Price:* $31 per share, above the expected range of $27-$28

- *Shares Offered:* 34.3 million shares (15.1 million new shares and 19.2 million shares sold by existing stockholders)

- *Valuation:* Circle's IPO valuation is around $7 billion, with the company raising approximately $468 million from the sale of new shares

- *Underwriters:* J.P. Morgan, Citigroup, and Goldman Sachs are the lead underwriters, with other notable banks like Barclays, Deutsche Bank Securities, and Societe Generale participating

- *Revenue Model:* Circle generates revenue primarily through interest earned on the reserves backing its USDC stablecoin, as well as value-added services like custody, tokenization tools, and compliance-as-a-service offerings

- *Growth Potential:* With a strong business model, growing stablecoin market, and visible institutional backing, Circle is poised for long-term growth and potentially becoming a leading player in the fintech industry

- *Competition:* Circle faces competition from other stablecoin issuers like Tether, with a market cap of around $152.7 billion, and Ripple, which recently launched its own stablecoin, RLUSD

- *Institutional Interest:* Cathie Wood's ARK Investment Management has shown non-binding interest in purchasing up to $150 million worth of shares at the IPO price, signaling confidence in Circle's long-term vision.