Circle Internet Group, the leading issuer of the USDC stablecoin, has launched its initial public offering (IPO), offering 24 million shares of Class A common stock.
The firm behind the second-largest stablecoin is offering shares for a price range between $24.00 and $26.00 per share, potentially raising up to $624 million if priced at the top end.
Circle Launches IPO, Aiming to Raise Up to $624 Million
The company has applied to list on the New York Stock Exchange under the ticker “CRCL”.
“Circle is offering 9,600,000 shares of Class A common stock and the selling stockholders are offering 14,400,000 shares of Class A common stock,” Circle said in an announcement on Tuesday.
The offering is led by J.P. Morgan, Citigroup, and Goldman Sachs, with several other institutions serving as bookrunners and co-managers. In addition, Circle may grant underwriters a 30-day option to purchase up to 3.6 million additional shares to cover over-allotments.
While the offering is subject to market conditions and SEC approval, it marks a significant step for Circle as it pushes deeper into traditional capital markets. The IPO comes amid growing institutional interest in crypto and stablecoin infrastructure.
The filing also follows reports that Ripple, the company behind XRP, and crypto exchange Coinbase are pursuing an acquisition of Circle.
“Despite rumors of an acquisition by coinbase or Ripple, stablecoin issuer Circle files for an initial public offering on the New York Stock Exchange,” a crypto influencer posted on X.
In April, the company filed an S-1 form with the US Securities and Exchange Commission (SEC) to begin the process of going public. However, subsequent reports indicated that the USDC issuer was considering a delay in its IPO plans.
It was reported that the firm delayed its IPO due to market volatility caused by Trump’s tariff war, though no official confirmation was issued by Circle.
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