Circle, the company behind the USDC stablecoin, is aiming for a $5.65 billion valuation through a U.S.-based initial public offering. Circle plans to issue about 9.6 million new shares, while existing shareholders are looking to sell around 14.4 million shares.
The shares are expected to be priced between $24 and $26, with the total raise estimated at $624 million. Once listed, Circle will begin trading on the New York Stock Exchange under the ticker symbol CRCL.
The company filed for its IPO with the U.S. Securities and Exchange Commission in April, marking a significant step for one of the biggest players in the stablecoin market.
Circle operates USDC, the world’s second-largest stablecoin by market capitalization, and has reported solid year-over-year revenue growth of 16%, though EBITDA and net income have declined.
In a letter to investors, CEO Jeremy Allaire emphasized the company’s commitment to transparency and its role in building essential financial infrastructure.
He noted Circle’s goal to collaborate with both private companies and governments to help shape the future of digital finance. Further details on the IPO are yet to be disclosed.
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