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Circle’s IPO is the largest crypto listing since Coinbase’s 2021 debut and the first major IPO by a stablecoin issuer.
Circle IPO Makes Stellar Wall Street Debut.
Circle IPO: Stablecoin issuer Circle has made waves on Wall Street with its recent IPO. Since its debut, shares have surged 173 percent on Thursday, trading at $84.92 from the initial listing price.
Initially, Circle’s IPO listed at $69, marking a 123 percent premium on the New York Stock Exchange (NYSE) compared to the issue price of $31. At one point, shares peaked at $103.
Founded in 2013 by Jeremy Allaire and Sean Neville, Circle Internet is a US-based financial technology company. It is renowned for issuing stablecoins such as USD Coin (USDC), pegged 1:1 to the US dollar, and Euro Coin (EURC), pegged to the euro.
Circle Payments Network (CPN) is Circle’s innovative blockchain-native network designed to redefine how money moves globally. Built on the power of stablecoins like USDC and EURC, CPN enables financial institutions to send, receive, and settle cross-border payments with speed, transparency, and compliance at its core.
Circle and some of its existing investors raised $1.05 billion in an upsized IPO by selling 34 million shares at $31 each, exceeding the marketed range of $27 to $28 per share.
The digital asset industry’s outlook has improved with the Trump administration’s lighter regulatory approach, fostering a crypto-friendly environment. Recently, more companies have started adding cryptocurrencies to their balance sheets to leverage rising token prices.
Circle’s IPO is the largest crypto listing since Coinbase’s 2021 debut and the first major IPO by a stablecoin issuer. Previously, Circle attempted to go public through a $9 billion blank-check deal that fell apart in 2022.
The anticipated passage of the stablecoin bill could further boost the adoption of digital tokens and help make them mainstream. A stablecoin is a type of cryptocurrency that is designed to maintain a stable value, typically by being pegged to a reserve asset like a fiat currency (e.g., USD, INR, or EUR), a commodity (like gold), or even another cryptocurrency.
Circle is continuously innovating to integrate stablecoins into the mainstream, including developing ways for financial institutions to interact with USDC, said CEO Jeremy Allaire in an interview with Reuters.
(With Reuters Inputs)
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
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