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Stablecoin giant Circle bets on IPO

The stablecoin company Circle officially filed an IPO with the U.S. Securities and Exchange Commission on April 1 in preparation for going public.

By Mike Hesp
• 2 min read
Stablecoin giant Circle bets on IPO

The stablecoin company Circle officially filed an IPO application with the U.S. Securities and Exchange Commission in preparation for going public.

If approved, Circle shares will trade on the New York Stock Exchange under the ticker symbol “CRCL.”

For the IPO, Circle is working with major investment banks JPMorgan Chase and Citi. According to reports, the company is aiming for a valuation of up to five billion dollars.

In the run-up to the IPO, Circle moved its headquarters to New York City last year.

Circle’s USDC stablecoin, pegged to the U.S. dollar, currently has a market capitalization of $60 billion, making it the seventh-largest cryptocurrency by market cap. Only Tether has a larger share of the stablecoin market.

Revenue from managing the reserves backing the stablecoin totaled about $1.7 billion in 2024. Last year, Circle reported net income of roughly $156 million.

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