Catenaa, Saturday, June 07, 2025- Circle Internet Financial, the issuer of the USDC stablecoin, raised about $1.1 billion in its initial public offering Wednesday, selling 34 million shares at $31 each-above its marketed range- marking one of the most dramatic tech IPO debuts of the year.
The firm initially targeted $896 million at a $7.2 billion valuation but exceeded expectations with a potential market value of $6.9 billion and a fully diluted valuation of $8.1 billion, Bloomberg reported citing sources.
Circle’s stock surged nearly 200% in its New York Stock Exchange debut Thursday, jumping from the IPO price of $31 to over $90 within hours, briefly triggering a trading halt.
Circle is the issuer of USDC, the second-largest U.S. dollar-pegged stablecoin with a $60.9 billion market cap. Its rapid market rise reflects growing investor enthusiasm for blockchain-based fintech firms amid a broader recovery in digital asset valuations.
This IPO comes amid rising stablecoin adoption globally, with total stablecoin supply approaching $250 billion. U.S. lawmakers are advancing regulatory frameworks such as the GENIUS Act, aiming to tighten oversight of stablecoins.
Circle’s regulatory compliance and U.S.-based operations are seen as competitive advantages over rivals like Tether’s USDT, positioning it well in the evolving digital asset landscape.
However, Circle has not issued any public statement in this regard to-date.
