Circle Internet Group, the company behind the USDC stablecoin, has officially applied for the first initial public offering (IPO ) that plans to trade under the symbol “CRCL” on the New York Stock Exchange (NYSE).
Stablecoin Issuer Circle Applies for IPO on NYSE, Targeting a Share Price of $24-26
According to the application, Circle will offer 24 million Class A shares, with 9.6 million coming directly from the company and the remaining 14.4 million being sold by existing stakeholders. The expected IPO price range has been set between 24 and 26 dollars per share.
If priced at the highest point of December, the offer could rise to as much as $624 million, valuing the crypto firm at billions of dollars depending on final allocations and market reactions.
Circle is best known for issuing USD Coin (USDC), which is widely used in crypto trading, decentralized finance (DeFi), and payment platforms, and is the second largest stablecoin by market capitalization.
The move to go public came as Circle aims to solidify its presence in traditional financial markets and increase transparency amid growing regulatory scrutiny in the stablecoin sector.
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