(First U.S. IPO settled fully in stablecoins 🔥)
Key Highlights:
💵 Funds Raised: $1.15B via IPO
📈 Trading Debut: Opened at $90 (+84%), later cooled but stayed above IPO price (~$62 pre-market).
🏦 Settlement: Entirely in stablecoins (no fiat involved). Jefferies handled cross-border minting & transfers.
🔐 Custody: USDC & EURC
Stablecoins Used :-
Circle’s USDC & EURC (main tokens)
Paxos PYUSD, Ripple’s RLUSD, SocGen’s USDCV/EURCV
Others: USDG, USD1, AUSD, EURAU
👉 Most minted on Solana for ultra-fast, low-cost settlement.
Why It Big :-
📊 First-ever U.S. IPO fully using stablecoins.
📊 First-ever Wall Street IPO fully on-chain.
📉 Potential 90% cost savings vs. legacy rails.
⚡ Settlement speed cut from T+2 → instant 24/7.
Market & Regulatory Impact :-
✅ Validates stablecoins in regulated U.S. markets.
📌 Bullish moving toward a BitLicense in the U.S.
🔮 Could unlock tokenized securities & real-time global liquidity.
🔎 Takeaway :-
This IPO is more than just a listing—it’s a blueprint for how crypto can transform traditional finance. With $170B already in stablecoins, expect more IPOs and Wall Street deals going on-chain soon.
