Circle, the issuer of the second-largest stablecoin USDC by market capitalization, has begun trading on the New York Stock Exchange (NYSE).
Circle CEO Jeremy Allaire announced on June 5, 2025, on the X platform that the company made its debut on the NYSE under the ticker symbol CRCL.
Allaire stated that the company's listing comes 12 years after he co-founded Circle with Sean Neville, with the mission to transform the global economic system by "fundamentally reimagining and rebuilding it natively on the internet."
"Becoming a public company is an important and powerful milestone— the world is ready to start upgrading and transitioning to an internet financial system," Allaire noted.
Circle's public listing comes shortly after the company reported that its initial public offering (IPO) had been expanded to $1.05 billion, selling 34 million shares at a price of $31 each. The initial IPO plan was to offer 24 million shares at a price between $24 and $26.
Allaire's announcement on the X platform attracted the attention of key figures in the crypto community, including Michael Saylor, co-founder of Strategy, and Paul Grewal, Chief Legal Officer of Coinbase, who were among the first to congratulate Circle on its NYSE listing.
"Congratulations, Jeremy—kudos to you and the entire CRCL team," Saylor wrote.
"Thank you to every individual, project, and company that has been part of this journey. I am deeply humbled and sincerely grateful," Allaire stated in the announcement, adding:
"This is not just a personal moment for each of us; I believe it is also an important moment for the future development of the global economic system, as it inevitably merges with the internet."
On the occasion of Circle's public listing, the market capitalization of its flagship product, the USDC stablecoin, has seen significant growth.
According to CoinGecko data, USDC's market capitalization surged from $43.7 billion on January 1 to $61.5 billion currently, surpassing $62 billion in April, representing an increase of over 40%.
At the time of writing, USDC is the seventh-largest cryptocurrency in the market and the second-largest stablecoin after Tether's USDt (USDT). USDt has a market capitalization of $153.9 billion, far exceeding that of USDC.
Although Tether's stablecoin operates on a much larger scale than Circle's USDC, its CEO Paolo Ardoino revealed that Tether, headquartered in El Salvador, currently has no plans for an IPO.
Other publicly traded companies are also operating and issuing stablecoins, such as PayPal, which launched the PayPal USD (PYUSD) stablecoin in 2023. According to CoinGecko data, PYUSD's market capitalization is less than $1 billion, significantly smaller in scale.
Related: Reports indicate that JPMorgan will accept crypto ETFs as loan collateral.
Original article: “USDC issuer Circle debuts public trading on the NYSE”
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