Circle Soars in $1.1B NYSE IPO Debut

Circle Internet Group, issuer of the USDC stablecoin, made a landmark debut on the New York Stock Exchange under the ticker CRCL, raising approximately $1.1 billion in its IPO, with shares surging as much as 124% above the $31 offering price. The company’s pre-trading valuation was nearly $7 billion, making this the largest crypto listing since Coinbase in 2021 and the first time a major stablecoin issuer has gone public through a traditional IPO. The oversubscribed offering highlights strong investor enthusiasm for digital assets, amid a more favorable regulatory environment under the Trump administration and expectations for new stablecoin legislation. USDC has grown to become the second-largest stablecoin by market capitalization, with over $60 billion in circulation and more than $25 trillion in on-chain transactions since 2018. Circle’s regulatory compliance, cross-jurisdictional licensing, and transparency have established it as a model for future crypto IPOs. Analysts believe Circle’s successful listing will encourage more digital asset firms to pursue public offerings, signaling increased Wall Street acceptance of the sector.