Circle, known as the issuer of the USDC stablecoin, has filed for an initial public offering (IPO) on the New York Stock Exchange (NYSE). As part of this process, the firm plans to raise up to $624 million by selling 25 million shares, which will achieve a valuation of $6.7 billion on a fully diluted basis.
This is reported by Finway
IPO Details and Investment Raising
According to the press release, Circle and its shareholders intend to offer investors 24 million Class A shares at a price range of $24 to $26. Underwriters will have the option to purchase an additional 3.6 million securities within the next 30 days. The company’s shares will trade under the ticker CRCL.
Among the leading bookrunners accompanying the IPO will be financial institutions such as JPMorgan Chase, Citigroup, and Goldman Sachs & Co. The filing with the U.S. Securities and Exchange Commission (SEC) also noted that ARK Invest expressed interest in purchasing $150 million worth of Circle securities.
Previous Attempts to Go Public
Previously, in 2022, Circle attempted to conduct an IPO through a merger with Concord Acquisition Corp, but the deal was canceled. At that time, the company was valued at $9 billion. In mid-2024, rumors resurfaced about Circle’s intention to go public, but the valuation was already around $5 billion.
The filing with the SEC was submitted in April 2025. Following this, rumors about a possible sale of the company emerged, which were denied.
“For Circle, achieving public corporation status on the New York Stock Exchange is a continuation of our commitment to operate with the utmost transparency and accountability,” said Circle CEO Jeremy Allaire.
Interestingly, amidst Circle’s SEC filing, Tether CEO Paolo Ardoino, the issuer of USDT, remarked, “Tether does not need to be public.”