Circle Internet Group, a prominent issuer of the USDC stablecoin, is preparing to debut its shares on the New York Stock Exchange (NYSE) at a price of $31 per share, exceeding its initial expected range of $24 to $26. This pricing values the company at approximately $6.8 to $6.9 billion.
The company has increased the size of its initial public offering (IPO) from an original plan of 24 million shares priced between $24 and $26, to now offering 34 million shares at $31 each, raising around $1.05 billion. This reflects strong investor demand and confidence in Circle's business model and growth prospects.
In 2024, Circle generated revenue of about $1.76 billion with a net income surpassing $155 million. Early 2025 data shows rapid expansion, with its USDC stablecoin used for more than $25 trillion in on-chain transactions as of March 31, 2025. Notably, on-chain transaction volume surged by approximately 500% in the first quarter of 2025 compared to the same period the prior year.
Circle is the world’s second-largest stablecoin issuer and operates as a compliance-first company regulated across multiple jurisdictions, including holding Electronic Money Institution and Major Payment Institution licenses in the UK and Singapore respectively. Circle's regulatory positioning and technological focus on real-time and programmable payment rails, including cross-border payments via USDC and EURC stablecoins, underline its strategic importance in the evolving digital money landscape.
The IPO is also attracting significant institutional interest, with investment giant BlackRock reportedly preparing to acquire at least a 10% stake in the company upon its public debut. Earlier acquisition rumors and attempts via SPAC did not materialize, but the current climate appears more favorable, aiming to establish Circle as a major public fintech entity.