Stablecoin Issuer Circle Raises $1.05 Billion in Upsized US IPO 2r1w5k Technology News

Circle's IPO will also be one of the biggest crypto listings since Coinbase Global's stock market debut in 2021. 3u1x68

By Reuters | Updated: 5 June 2025 15:48 IST

Stablecoin Issuer Circle Raises $1.05 Billion in Upsized US IPO

Photo Credit: X/ @Circle 295e4w

Founded in 2013, Circle is the issuer of USDC, which has a market capitalisation of more than $61 billion

Highlights

Circle's shares sales valued it at $8 billion on a fully diluted basis
Stablecoins are a type of cryptocurrency designed to hold a steady value
Donald Trump has promised lighter crypto regulations in the US

ment

Circle Internet on Wednesday priced its upsized US initial public offering at $31 (roughly Rs. 2,660) apiece, raising $1.05 billion (roughly Rs. 9,001 crore), adding fresh momentum to a growing pipeline of late-stage cryptocurrency firms eyeing public markets.

USDC stablecoin, at roughly $8 billion (roughly Rs. 68,581 crore) on a fully diluted basis. The IPO had been marketed in a range of $27 (roughly Rs. 2,315) to $28 (roughly Rs. 2,400) per share.

The company's flotation would rank among the biggest of the year, following a period of market uncertainty sparked by the Trump istration's shifting trade policies that prompted many firms to delay IPO plans.

Bitcoin Stabilises at Around $105,500, Most Altcoins See Gains

Circle's IPO, which will also be one of the biggest crypto listings since crypto regulations.

"The huge demand for Circle's IPO is a boon for both the IPO market and cryptocurrency-linked listings," Samuel Kerr, head of equity capital markets at Mergermarket, said.

There still seems to be a divide in the market, with institutional demand focused on stablecoins and other less-volatile crypto assets such as infrastructure or exchanges, rather than on more speculative single-cryptocurrency investments that aren't tied to benchmarks like the US dollar, Kerr added.

WazirX Restructuring Plan Rejected By Singapore High Court

Founded in 2013, Circle is the issuer of USDC, which has a market capitalisation of more than $61 billion (Roughly Rs. 5,22,907 crore) and is the second-biggest stablecoin after Tether, according to crypto market tracker CoinGecko.

Stablecoins are a type of cryptocurrency designed to hold a steady value by linking them to traditional currencies like the US dollar. Besides USDC, Circle also issues the euro-denominated stablecoin EURC.

Circle will start trading on the NYSE under the symbol "CRCL" on Thursday.

J.P.Morgan, Citigroup and Goldman Sachs are the lead underwriters for the offering.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

Comments

For the latest reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.