Circle Internet Group, the issuer of the USDC stablecoin, debuted publicly on the New York Stock Exchange (NYSE) on June 5, 2025, under the ticker symbol "CRCL."
The company priced its initial public offering (IPO) at $31 per share, above the expected range of $27 to $28, raising approximately $1.1 billion by selling 34 million shares. The IPO valued Circle at about $6.8 billion before trading began.
On its first day, Circle's shares opened at $69.50 and surged as high as $103.75, eventually closing around $83.23, marking a gain of about 168% from the IPO price. This strong market debut reflects significant investor interest and positions Circle alongside other publicly traded pure-play crypto firms like Coinbase.
Circle is known for issuing USDC, the world's second-largest stablecoin with a market cap around $61 billion, which is pegged 1:1 to the U.S. dollar, providing stability and utility in the cryptocurrency market.
The company's public listing is seen as a milestone for the stablecoin market, bringing greater transparency, regulatory oversight, and credibility to the sector. It also signals growing acceptance of regulated digital assets by traditional finance, with major banks underwriting the deal.
Circle aims to leverage this public status to expand its role in the internet financial system, capitalizing on its $1.7 billion revenue in 2024 driven by increased adoption of USDC in payments and institutional use.
The IPO is expected to encourage other crypto companies to pursue public listings, further integrating crypto into mainstream finance.
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