Circle Internet Financial, Inc. began trading on the NYSE under the ticker “CRCL” on June 5, 2025. The company, known for the $60 billion USDC stablecoin, priced its IPO at $31 per share, above its marketed range of $27 to $28. It sold 34 million shares to raise $1.05 billion.
The offering was upsized from an initial plan to sell 24 million shares at $24-$26, reflecting strong investor demand. Underwriters including JPMorgan, Citigroup and Goldman Sachs hold a 30-day option to sell an additional 5.1 million shares. Proceeds will cover tax obligations from restricted stock units, with the remainder funding working capital.
The IPO coincides with a favorable regulatory environment for cryptocurrencies under the current U.S. administration. Analysts suggest the listing could boost confidence in stablecoins and encourage other crypto firms to go public.
CEO Jeremy Allaire stated: “I am incredibly proud and thrilled to share that Circle is now a public company listed on the New York Stock Exchange under $CRCL!… Our transformation into being a public company is a significant and powerful milestone – the world is ready to start upgrading and moving to the internet financial system.”
Circle’s valuation stands at approximately $6.217 billion on a fully diluted basis. The company reported $1.68 billion in 2024 revenue and reserve income, up from $1.45 billion in 2023.
The listing marks a milestone for stablecoins and crypto firms, with USDC being the second-largest globally. Market observers will monitor post-IPO performance amid broader economic uncertainties.
“Circle’s upsized IPO reflects deepening institutional belief that stablecoins like USDC will play a foundational role in modern finance and is commensurate with USDCs growth into a $64B behemoth. It may also be opportunistic given the relaxation of regulations and an incredibly favorable environment in the U.S. under the Trump administration,” James Toledano, Chief Operating Officer at Unity Wallet told Bitcoin.com News on Thursday.
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