Circle Internet Group Files for $24-$26 IPO on NYSE

Circle Internet Group, the company behind the stablecoin USDC, has filed for an initial public offering (IPO) on the New York Stock Exchange. The company is offering 24 million of its class A shares, with 9.6 million shares being offered by the firm and 14.4 million shares by selling stakeholders. The IPO price is expected to be between $24 and $26 per share, and the shares will trade under the ticker 'CRCL'.

This move by Circle comes after the company denied rumors of potential acquisition talks with major cryptocurrency firms. Circle has consistently maintained that it is not for sale and that its long-term goals remain focused on becoming a leader in financial infrastructure through an IPO. The company's decision to pursue an IPO is a significant step in the cryptocurrency industry, as it would be the first major stablecoin issuer to be listed on a US stock exchange. This could potentially generate institutional interest, regulatory confidence, and increased market competition. Circle's public valuation may also serve as a benchmark for other cryptocurrency companies seeking an IPO, potentially unleashing a new wave of crypto listings and capital inflows.

Circle has been in the process of preparing for its IPO since January 2024, when it confidentially filed an S-1 with the Securities and Exchange Commission (SEC). The company has already enlisted investment banks to underwrite the offering, although the exact schedule of the public premiere has yet to be determined. Rumors suggest that Circle will soon launch its IPO schedule, but this has not been confirmed. The company's denial of acquisition talks with Coinbase and Ripple underscores its commitment to operational independence and its pursuit of regulatory clarification. Despite earlier reports of a $4–5 billion purchase bid from Ripple, Circle has stated that it is not interested in being acquired and that it has no plans to sell. The company's focus remains on its long-term goals and its commitment to an IPO.

Circle's IPO could have a significant impact on the cryptocurrency market, as it would provide a new level of transparency and regulatory oversight for stablecoins. The company's public listing could also attract more institutional investors to the cryptocurrency space, potentially leading to increased market stability and growth. Overall, Circle's decision to pursue an IPO is a bold move that could reshape the crypto market and stablecoin competition.