Circle shares open for trading on NYSE
Circle raises $1.05B in NYSE debut, surging past IPO expectations
Circle, the firm behind USD Coin (USDC), made its public debut on the New York Stock Exchange Thursday under the ticker CRCL, pricing its IPO at $31 per share.
Originally aiming to raise around $624 million through 24 million shares at $24–$26, Circle ultimately sold 34 million shares, bringing in $1.05 billion following heavy investor demand, reports Cryptopolitan.
Underwriters JPMorgan, Goldman Sachs, and Citigroup secured a 30-day option to offload an additional 5.1 million shares, potentially pushing total proceeds even higher. The IPO positions Circle firmly in the public spotlight, more than a decade after its founding.
Allaire hails the IPO as a turning point
Co-founder and CEO Jeremy Allaire called the IPO a “significant and powerful milestone” in a message on X. Recounting the company’s 12-year mission to “rebuild the financial system natively on the internet,” Allaire framed Circle’s public listing as the beginning of a new phase in bringing financial infrastructure online.
Circle recently moved its headquarters from Boston to New York, further aligning itself with the financial mainstream. With regulatory oversight now from both the SEC and NYSE, Allaire emphasized Circle’s commitment to transparency, ethics, and compliance. “This is a big moment for the internet’s role in the global economy,” he concluded.
Circle’s narrow focus stands out amid tech IPO rebound
Unlike fintech peers like Robinhood or Block, Circle remains laser-focused on stablecoins, making it a pure-play crypto infrastructure bet. It currently holds 27% of the stablecoin market—second only to Tether’s 67%—and earned $1.68 billion in revenue and $156 million in profit in 2024. Though net income fell from 2023’s $268 million, Circle remains profitable, a rarity in the current IPO landscape.
Cathie Wood’s ARK Invest has disclosed plans to buy up to $150 million of Circle stock, a signal of institutional interest. As the IPO market rebounds—with names like eToro, CoreWeave, and Klarna stepping in—Circle’s simplicity and profitability make it one of the standout entries of the year.
Resently we wrote that Circle, the issuer behind USDC, the second-largest stablecoin by market cap, reportedly engaged in informal discussions over a potential $5 billion sale to Coinbase and Ripple.
