{"id":24531,"date":"2025-06-05T12:32:53","date_gmt":"2025-06-05T09:32:53","guid":{"rendered":"https:\/\/forklog.com\/en\/media-usdc-stablecoin-issuer-valued-at-6-9bn-after-ipo\/"},"modified":"2025-06-05T12:32:53","modified_gmt":"2025-06-05T09:32:53","slug":"media-usdc-stablecoin-issuer-valued-at-6-9bn-after-ipo","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/media-usdc-stablecoin-issuer-valued-at-6-9bn-after-ipo\/","title":{"rendered":"Media: USDC stablecoin issuer valued at $6.9bn after IPO"},"content":{"rendered":"<p>Circle raised $1.1 billion \u2014 almost twice what it had planned. The USDC issuer\u2019s common-stock offering on the <span data-descr=\"New York Stock Exchange\" class=\"old_tooltip\">NYSE<\/span> was 25 times oversubscribed, \u043f\u0438\u0448\u0435\u0442<a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-06-04\/circle-ipo-is-said-to-price-above-range-to-raise-1-1-billion\"> Bloomberg<\/a>, citing people familiar with the matter.<\/p>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">June 5, 2025 | 17:57<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>On June 5, Circle listed its shares on the NYSE. Trading is under the ticker CRCL.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">I am incredibly proud and thrilled to share that <a href=\"https:\/\/twitter.com\/circle?ref_src=twsrc%5Etfw\">@circle<\/a> is now a public company listed on the New York Stock Exchange under <a href=\"https:\/\/twitter.com\/search?q=%24CRCL&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$CRCL<\/a>!<\/p>\n<p>12 years ago we set out to build a company that could help remake the global economic system by re-imagining and re-building it from the ground up\u2026 <a href=\"https:\/\/t.co\/okcH0ys6Tc\">pic.twitter.com\/okcH0ys6Tc<\/a><\/p>\n<p>\u2014 Jeremy Allaire \u2014 jda.eth \/ jdallaire.sol (@jerallaire) <a href=\"https:\/\/twitter.com\/jerallaire\/status\/1930595978215637360?ref_src=twsrc%5Etfw\">June 5, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to CEO Jeremy Allaire, the move to the public markets is \u201ca significant and powerful milestone.\u201d He believes the world is ready to shift to \u201cthe Internet financial system.\u201d<\/p>\n<p>The Circle chief underlined the company\u2019s commitment to trust, transparency, regulatory compliance and ethical governance. In his view, meeting NYSE standards and <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> rules will reinforce those qualities.<\/p>\n<\/div>\n<p>The fully diluted valuation came to $8.1 billion.<\/p>\n<p>Circle and its investors, including Allaire, sold a total of 34 million Class A common shares at $31 apiece.<\/p>\n<p>The lead underwriters are JPMorgan, Citigroup and Goldman Sachs.  <\/p>\n<p>Initially, the firm aimed to raise about $600 million with a range of $24\u201326 per share, implying a valuation of <a href=\"https:\/\/forklog.com\/en\/news\/circle-updates-ipo-filing-with-valuation-of-5-4-billion\">$5.4 billion<\/a>. <\/p>\n<p>Two days earlier Circle increased the size of the offering to $896 million with an expected capitalisation<a href=\"https:\/\/www.theblock.co\/post\/356602\/circle-seeks-7-2-billion-valuation-in-upsized-ipo\"> of $7.2 billion<\/a> at the top end.<\/p>\n<p>In early April the <span data-descr=\"initial public offering\" class=\"old_tooltip\">IPO<\/span> <a href=\"https:\/\/forklog.com\/en\/news\/circle-considers-delaying-ipo-amid-market-turmoil\">was postponed<\/a> indefinitely owing to <a href=\"https:\/\/forklog.com\/en\/news\/a-volatile-friday-how-crypto-reacted-to-tariffs-and-the-fed-chairs-remarks\">market uncertainty<\/a> in light of <a href=\"https:\/\/forklog.com\/en\/news\/trump-declares-liberation-day-with-new-tariffs\">a review of trade tariffs<\/a> by U.S. President Donald Trump.<\/p>\n<p>Later, media reported <a href=\"https:\/\/forklog.com\/en\/news\/circles-potential-withdrawal-from-ipo-and-5-billion-sale-rumored\">that Circle might abandon the IPO<\/a> and sell the business for $5 billion. The company was said to have held talks with Coinbase and Ripple. The latter sought to acquire Circle <a href=\"https:\/\/forklog.com\/en\/news\/ripples-bid-for-circle-deemed-insufficient-say-sources\">for $4\u20135 billion<\/a>, but was rebuffed for \u201can insufficient amount.\u201d<\/p>\n<p>Coinbase had partnered with the firm via the Center consortium, which oversaw issuance of USDC. In August 2023 the structure was dissolved after the exchange bought a minority stake in Circle. Circle assumed the role of sole issuer of the stablecoin.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Timeline<\/strong><\/h2>\n<p>In July 2021 Circle said it would go public via a reverse merger with Concord Acquisition Corp. It was reported that its shares would list on the NYSE under the ticker CRCL.<\/p>\n<p>At the end of 2022 Circle terminated the deal with the <span data-descr=\"a shell company that helps businesses list and start trading more quickly.\" class=\"old_tooltip\">SPA<span>\u200b<\/span>C<\/span>. It followed the collapse of FTX, which worsened conditions in the digital-asset market and dampened Wall Street\u2019s appetite for crypto firms.<\/p>\n<p>The company was valued at $4.5 billion ahead of the merger, but in February 2022 the figure rose to $9 billion. The boards approved a new agreement at that time. The deal was slated to close by December 8, with an option to extend to January 31, 2023.<\/p>\n<p>In February 2023 CFO Jeremy Fox-Geen stressed that the firm had not abandoned plans to go public, awaiting better conditions. <\/p>\n<p>In November that year, Bloomberg learned of a return to the IPO plan. In January 2024 Circle <a href=\"https:\/\/forklog.com\/en\/news\/circle-files-for-ipo-in-the-united-states\">filed confidentially<\/a>.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Sector context<\/strong><\/h2>\n<p>In June 2025 the market capitalisation of stablecoins topped $250 billion for the first time. USDT from Tether leads with a market value above $153 billion, followed by Circle\u2019s USDC at $61.4 billion.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/1-1599.webp\" alt=\"1-1599\" class=\"wp-image-260013\"\/><figcaption class=\"wp-element-caption\">Data: CoinGecko.<\/figcaption><\/figure>\n<p>Citigroup <a href=\"https:\/\/forklog.com\/en\/news\/citigroup-predicts-stablecoin-market-cap-to-reach-3-7-trillion-in-five-years\">forecast<\/a> stablecoin market cap could rise to $3.7 trillion in five years, while Standard Chartered sees <a href=\"https:\/\/forklog.com\/en\/news\/standard-chartered-predicts-stablecoin-market-cap-to-reach-2-trillion-by-2028\">~$2 trillion by 2028<\/a>.<\/p>\n<p>Circle\u2019s IPO came amid a shifting regulatory backdrop for stablecoins. On May 19 the Senate advanced the <a href=\"https:\/\/forklog.com\/en\/news\/us-senate-advances-bipartisan-stablecoin-regulation-bill\">GENIUS Act<\/a>. The initiative aims to create a legal framework for dollar-pegged cryptocurrencies and has Donald Trump\u2019s support. <\/p>\n<p>The bill requires full backing of stablecoins with U.S. dollars or highly liquid assets. Issuers with market caps above $50 billion must undergo annual audits. <\/p>\n<p>On May 22 the WSJ reported that companies co-owned by JPMorgan, Bank of America, CitiGroup, Wells Fargo and other big banks <a href=\"https:\/\/forklog.com\/en\/news\/us-banks-to-launch-stablecoin-consortium-reports-wsj\">are discussing<\/a> launching a joint stablecoin.<\/p>\n<p>In April Circle <a href=\"https:\/\/forklog.com\/en\/news\/circle-to-challenge-visa-and-mastercard-with-new-payment-product\">launched<\/a> a new product for payments and cross-border transfers as an alternative to Visa and Mastercard.<\/p>\n<p>Earlier, Borderless CEO Kevin Lehtiniitty <a href=\"https:\/\/forklog.com\/en\/news\/stablecoin-veteran-warns-circle-of-ipo-costs\">warned<\/a> Circle about the risk of weakening its position by going public.<\/p>\n<p>In May, the listing price for trading platform eToro\u2019s shares <a href=\"https:\/\/forklog.com\/en\/news\/etoro-valued-at-4-3-billion-as-shares-priced-at-52\">was $52<\/a>, above the initial IPO range of $46\u201350 and reflecting stronger demand. <\/p>\n<p>Similar plans to go public are also being considered by <a href=\"https:\/\/forklog.com\/en\/news\/gemini-cryptocurrency-exchange-files-for-ipo\">Gemini<\/a> and <a href=\"https:\/\/forklog.com\/en\/news\/kraken-considers-ipo-amid-regulatory-shifts\">Kraken<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Circle raised $1.1 billion \u2014 almost twice what it had planned. The USDC issuer\u2019s common-stock offering on the NYSE was 25 times oversubscribed, \u043f\u0438\u0448\u0435\u0442 Bloomberg, citing people familiar with the matter. June 5, 2025 | 17:57Update: On June 5, Circle listed its shares on the NYSE. Trading is under the ticker CRCL. I am incredibly [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":24530,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1220,767,807,1211],"class_list":["post-24531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-circle","tag-ipo","tag-stablecoins","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"82","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/24531","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=24531"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/24531\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/24530"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=24531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=24531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=24531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}