Circle Surges in IPO Debut, Raises $6.9B at $31 Per Share

Circle, the issuer of the USDC stablecoin, has priced its highly anticipated initial public offering (IPO) at $31 per share—significantly above the $24–$26 expected range. The offering included roughly 34 million shares, valuing the firm at $1.1 billion. According to Bloomberg, the IPO raised a total of $6.9 billion.

Originally, Circle planned to sell 24 million Class A shares, with 9.6 million directly offered by the company and the remainder from early stakeholders. The shares will begin trading Thursday on the New York Stock Exchange under the ticker symbol “CRCL.”

This IPO marks a milestone for the crypto sector, becoming the second major digital asset company to go public under the Trump administration following eToro’s listing last month. Circle had previously tried to go public via a SPAC merger in 2021, a deal that later fell through. Despite the setback, Circle remained committed to reaching the public markets.

Circle is best known for issuing USDC, the second-largest U.S. dollar-pegged stablecoin, widely used across crypto exchanges and DeFi applications. The IPO provides the company with greater access to capital and may enhance regulatory credibility—an important advantage as lawmakers push for stablecoin oversight.

Senator Bill Hagerty, a key proponent of stablecoin legislation, emphasized the urgency of passing regulatory frameworks to ensure U.S. competitiveness and protect consumers. He noted that all regulated stablecoins under the bill would be fully backed by U.S. Treasuries, signaling a move toward greater transparency and financial stability in the digital asset space.