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Circle Internet Group, the company behind the USDC stablecoin, has formally filed for an initial public offering (IPO) on the New York Stock Exchange, marking a significant move toward public market participation amid rising interest in regulated digital assets.
The firm disclosed its IPO plans in a filing with the U.S. Securities and Exchange Commission (SEC), confirming its intention to trade under the ticker symbol “CRCL.”
According to the registration statement, Circle plans to offer 24 million Class A common shares in the IPO. Of those, 9.6 million shares will be issued directly by the company, while an additional 14.4 million shares will be sold by existing shareholders.
The company has also indicated that it will grant underwriters a 30-day option to purchase up to 3.6 million additional shares. The IPO is expected to be priced between $24 and $26 per share, though final pricing will be determined closer to the offering date.
Circle IPO Details and Market Positioning
Circle’s IPO filing comes at a time when stablecoins are gaining traction as core infrastructure in the digital financial ecosystem. USDC, the company’s flagship product, is a fully-reserved stablecoin backed by U.S. dollars and short-term U.S. Treasuries.
As of today, USDC’s circulating supply stands at over $61.5 billion, making it one of the most widely adopted stablecoins globally, second only to Tether’s USDT.
Circle previously attempted to go public in 2021 through a special purpose acquisition company (SPAC) merger with Concord Acquisition Corp. That deal, which valued the company at $9 billion, was terminated in December 2022.
Since then, Circle has pursued a traditional IPO route and has reportedly been in discussions with multiple investment banks. The firm resubmitted confidential IPO paperwork to the SEC in early 2024 before now making its filing public.
The offering, if successful, would make Circle the first major U.S.-regulated stablecoin issuer to go public via a traditional exchange listing. This move could offer traditional investors a pathway to gain exposure to the fast-evolving stablecoin sector, which is increasingly being integrated into global payment systems, decentralized finance (DeFi) platforms, and tokenized asset markets.
