tl;dr
Circle, the issuer of the USDC stablecoin, has filed for an initial public offering (IPO) on the New York Stock Exchange under the ticker "CRCL." The company plans to offer 24 million Class A common shares, with an expected price range of $24 to $26 per share, potentially raising up to $624 million....
Circle, the issuer of the USDC stablecoin, has filed for an initial public offering (IPO) on the New York Stock Exchange under the ticker "CRCL." The company plans to offer 24 million Class A common shares with an expected price range of $24 to $26 per share, potentially raising up to $624 million.
Circle will receive about $250 million directly from the sale and could raise an additional $343.2 million if underwriters exercise their overallotment option to purchase 3.6 million extra shares. Major financial institutions such as JPMorgan Chase, Goldman Sachs, and Citigroup back the IPO as joint active bookrunners, joined by Barclays, Deutsche Bank Securities, and Société Générale as bookrunners.
Additional support comes from BNY Capital Markets, Canaccord Genuity, Needham & Company, Oppenheimer & Co., and Santander acting as co-managers, with junior co-managers including AmeriVet Securities, Drexel Hamilton, Mischler Financial Group, and Roberts & Ryan.
This IPO signals Circle’s expansion into traditional finance, offering investors a new avenue for exposure to the growing stablecoin market amid renewed institutional interest in digital assets. The move may set a precedent for other crypto-native firms considering public listings.
Circle has denied recent rumors of acquisition talks with Ripple and Coinbase, underscoring its independent path forward in the digital asset ecosystem.