Circle, the company behind the USDC stablecoin, has submitted a filing for an initial public offering (IPO) to be listed under the ticker “CRCL” on the New York Stock Exchange (NYSE), as revealed in a May 27 statement.
As part of the listing, the company is set to offer 24 million Class A common shares. Of these, 9.6 million will be issued by Circle, while 14.4 million are expected to be sold by current shareholders.
The company anticipates pricing the IPO between $24 and $26 per share, aiming to raise up to $624 million through the offering.
Only approximately $250 million is expected to be received by Circle from its portion of the offering. However, if underwriters fully exercise their overallotment option to acquire an extra 3.6 million shares, up to $343.2 million could potentially be raised by the stablecoin issuer.
At the same time, regulatory approval and overall market conditions continue to determine whether the offering will proceed.
Wall Street Backs Circle’s Bold IPO Bid
Leading U.S. financial giants such as JPMorgan Chase, Goldman Sachs, and Citigroup are supporting Circle’s IPO initiative. These institutions are actively guiding the process as joint bookrunners.
Additional major banks—Barclays, Deutsche Bank Securities, and Société Générale—are also participating in the IPO process, serving as bookrunners alongside the lead institutions.
Further assistance is being provided by BNY Capital Markets, Canaccord Genuity, Needham & Company, Oppenheimer & Co., and Santander, all of whom are named as co-managers.
Additional participants in the transaction include AmeriVet Securities, Drexel Hamilton, Mischler Financial Group, and Roberts & Ryan, who will take on roles as junior co-managers.
What Are the Market Implications?
The IPO filing highlights Circle’s expanding aspirations within conventional financial markets.
This move offers investors a fresh avenue to gain exposure to the growing stablecoin sector, while Circle’s success could establish a benchmark for other crypto-focused companies considering going public.
Significantly, Circle’s decision comes at a time of revived institutional enthusiasm for digital assets. Recent reports indicate that leading U.S. banks, such as JPMorgan, are actively working together on the development of a stablecoin initiative.
This development also comes amid recent speculation about a possible acquisition of Circle involving Ripple and Coinbase. The stablecoin firm, however, has dismissed these claims.
 to be listed under the ticker “CRCL” on the New York Stock Exchange (NYSE), as revealed in a May 27 statement.){kind=link}