USDC Issuer Circle Seeks $624M IPO With $6.7B Valuation

Circle, the issuer of the USDC stablecoin, is set to go public with an initial public offering (IPO) on the New York Stock Exchange under the ticker "CRCL." The company plans to offer 24 million shares priced between $24 and $26, aiming to raise up to $624 million and targeting a valuation of around $5.7 to $6.7 billion. Circle will sell 9.6 million new shares, while existing shareholders will sell 14.4 million shares, with Cathie Wood's ARK Investment Management expressing interest in purchasing up to $150 million. Major financial institutions, including JPMorgan Chase, Goldman Sachs, and Citigroup, are backing the IPO as joint bookrunners, signaling strong institutional support amid growing interest in digital assets. Circle operates the world's second-largest stablecoin by market capitalization, USDC, which exceeds $60 billion, and the IPO is seen as a move toward greater transparency and accountability in the cryptocurrency sector. The offering is subject to regulatory approval and market conditions, and Circle's listing could pave the way for other crypto-native firms seeking public listings.