Circle Internet Group Boosts IPO Size 33% to 32 Million Shares

Circle Internet Group and its shareholders have increased the size and price range of the company’s planned public offering. According to a June 2 filing with the U.S. Securities and Exchange Commission (SEC), the company and its backers are now offering 32 million shares, up from a previously planned 24 million, at a revised range of $27 to $28 per share. If priced at the top end, the deal could raise as much as $896 million and value the company at more than $6 billion.

The revised share pricing suggests strong investor demand, with major financial institutions such as BlackRock and Ark Invest among expected buyers. BlackRock is expected to acquire around 10% of the shares on offer, while Ark Invest has indicated plans to purchase up to $150 million worth. BlackRock already manages a fund that holds the majority of USDC’s cash reserves, linking its portfolio directly to the stablecoin’s performance.

Circle is the issuer of USDC, a dollar-pegged stablecoin with a current market capitalization of over $60 billion, making it one of the most widely used assets in the sector. The IPO comes amid renewed activity in U.S. capital markets, following a pause earlier this year due to tariff-driven volatility. Previously, Circle decided to reject a reported acquisition offer from Ripple in the $4–5 billion range. The company instead opted to proceed with a public listing, which it confidentially filed for earlier this year.

A Circle spokesperson said the firm remains focused on its independent corporate strategy and declined to comment further during the regulatory quiet period. The listing has also attracted interest from major financial institutions. The new share sale follows a string of international regulatory developments. Circle has expanded its presence in the Middle East and Asia, receiving in-principle approval to operate as a money services business in Abu Dhabi, with plans to test stablecoin services under local supervision. It also entered a partnership with Hub71, a government-backed tech ecosystem, to support product development in the region.

Circle’s public listing is expected to draw close attention from both crypto and traditional finance sectors, as investors evaluate the business model and earnings potential of blockchain-based payment firms entering public markets. In addition to earning interest on reserves backing USDC, Circle generates revenue from treasury services, transaction fees, and institutional crypto infrastructure such as APIs and programmable wallets. Becoming a public company increases disclosure obligations and financial scrutiny, which may help Circle gain broader regulatory acceptance, particularly as U.S. lawmakers consider stablecoin-specific legislation. Circle supports integration with card networks, banking APIs, and cross-border payment platforms. It positions USDC as a bridge between fiat and blockchain systems for settlement, remittances, and B2B use cases.