Circle, the company behind the USDC stablecoin, is moving forward with its plans for an initial public offering (IPO) on the New York Stock Exchange (NYSE). The company aims to raise up to $624 million through the IPO, offering 24 million shares priced between $24 and $26. The IPO targets a fully diluted valuation of approximately $6.7 billion.
The firm has applied to list its Class A common stock on the NYSE under the ticker symbol CRCL. As part of the offering, Circle is issuing 9.6 million shares of Class A common stock, while selling stockholders will offer the remaining 14.4 million shares. Major investment banks, including JPMorgan, Citigroup, and Goldman Sachs, are acting as joint lead active bookrunners for the IPO.
Cathie Wood's ARK Investment Management has expressed interest in purchasing up to $150 million worth of shares in the IPO. Launched in 2018 by Circle and Coinbase, USDC is a major digital asset used for crypto transactions. As of May 2025, USDC has a market capitalization of over $61.5 billion and has seen significant growth in trading volume.
This article is based on our author's analysis of materials taken from the following resources: Cointelegraph, Fox Business.