• Circle is offering 24M shares in its IPO, priced between $24–$26 each, aiming to raise over $600M.
  • The USDC issuer will list on the NYSE under the ticker symbol “CRCL”.
  • Top underwriters include J.P. Morgan, Citigroup, and Goldman Sachs, signaling strong institutional interest.

Circle Internet Group, the company behind the USDC stablecoin, has officially launched its long-awaited initial public offering (IPO), signaling a major milestone for the global financial technology firm as it aims to expand its dominance in the stablecoin and blockchain payments ecosystem.

According to a statement issued on May 23, 2025, Circle plans to offer 24 million shares of its Class A common stock at an estimated price range of $24.00 to $26.00 per share. Of the total shares, Circle itself will offer 9.6 million, while existing shareholders will offer the remaining 14.4 million.

The company has also granted underwriters a 30-day option to purchase an additional 3.6 million shares to cover over-allotments.

If priced at the upper range, the IPO could raise more than $624 million, placing Circle among the largest crypto-related listings on the New York Stock Exchange, where it will trade under the ticker symbol “CRCL”.

Circle’s underwriters include top Wall Street firms such as J.P. Morgan, Citigroup, and Goldman Sachs & Co., joined by Barclays, Deutsche Bank Securities, and Société Générale as additional bookrunners. A number of other financial institutions, including Oppenheimer & Co., Canaccord Genuity, and Santander, are acting as co-managers and junior co-managers.

The offering is still subject to regulatory approvals and market conditions, with no guarantees on final pricing or completion.

Circle is best known as the issuer of the USDC and EURC stablecoins, operating through regulated affiliates. USDC, the second-largest stablecoin by market capitalization, is widely used in both traditional and decentralized financial systems. With a growing ecosystem of developers, exchanges, and payment providers integrating USDC, Circle has positioned itself as a core infrastructure provider for blockchain-based finance.

The IPO filing marks a renewed push into the public markets after Circle’s earlier attempt to go public via a SPAC deal fell through in 2022. Since then, the firm has doubled down on regulatory engagement and global expansion, seeking to build trust in its compliance-first approach to digital assets.

With public scrutiny on stablecoins tightening and competition intensifying, Circle’s IPO is seen as a strategic move to cement its role in the next wave of blockchain-enabled financial services.

Edited by Harshajit Sarmah