 |
| crcl ipo |
Circle's Historic NYSE Debut: Pioneering Stablecoin Issuer Goes Public
On June 5, 2025, Circle Internet Group, the issuer of the widely used USD Coin (USDC), made history by becoming the first major stablecoin company to go public on the New York Stock Exchange (NYSE) under the ticker symbol CRCL.
The initial public offering (IPO) was priced at $31 per share, surpassing the anticipated range of $27 to $28. The offering involved 34 million shares, including 14.8 million new shares from the company and 19.2 million shares from existing shareholders. This raised approximately $1.05 billion, valuing the company at around $6.9 billion, with a fully diluted valuation approaching $8 billion.
The strong demand for the IPO reflected robust investor interest in the crypto-financial sector. Circle’s revenue growth, from $15 million in 2020 to $1.7 billion in 2024, was fueled by interest income from the reserves backing USDC.
Circle’s public debut comes amid growing regulatory clarity in the United States, with new legislation potentially favoring compliant stablecoin issuers. This moment not only solidifies Circle’s leadership in the digital asset space but also sets a powerful precedent for future public offerings from crypto-native companies.
Circle Internet Group: A fintech firm known for issuing the USD Coin (USDC), a leading stablecoin.
USD Coin (USDC): A digital stablecoin pegged to the U.S. dollar, widely used in digital payments and DeFi.
Stablecoin: A type of cryptocurrency designed to maintain a stable value, typically pegged to a fiat currency like the U.S. dollar.
New York Stock Exchange (NYSE): One of the world’s largest stock exchanges, now home to Circle’s shares under the symbol CRCL.
Initial Public Offering (IPO): The process of offering a private company’s shares to the public for the first time.
— end of article —
Comments
Post a Comment