Circle IPO Prices at $31, Raises $1.05 Billion, Valued at $8 Billion

Circle, the issuer of USD Coin (USDC), the second-largest stablecoin by market cap, has successfully priced its initial public offering (IPO) at $31 per share, exceeding the initially expected range of $27 to $28. The company managed to raise $1.05 billion by selling 34 million shares, which values the company at approximately $8 billion on a fully diluted basis. This pricing and share count increase were driven by strong demand, as Circle had initially aimed to raise $624 million by selling 24 million shares, a plan that was later revised to 32 million shares before being increased again due to growing interest.

Circle, founded in 2013, has made previous attempts to go public. The first attempt was through a SPAC deal in 2021, and the second was earlier this year, which was paused due to market uncertainty tied to trade policy shifts. This time, Circle also granted underwriters a 30-day option to buy an additional 5.1 million shares, which could bring in even more capital. The funds raised will be used for possible acquisitions, international expansion, and product development. Circle has stated that it intends to reinvest in the company rather than pay dividends at this time.

The company's shares were indicated at $42 to $44 after the IPO, reflecting significant investor interest and confidence in Circle's future prospects. This listing is a significant step for the crypto industry’s push into mainstream financial markets and is among the biggest IPOs of the year. It also comes at a time when several other cryptocurrency companies are considering going public.

Circle's IPO may pave the way for additional blockchain companies to follow suit, given the lighter crypto regulation expected under the current administration. The successful debut of Circle on the New York Stock Exchange (NYSE) under the ticker CRCL on June 5, 2025, marks a milestone for the company and the broader crypto industry. The final offer price of $31 per share exceeded the projected range of $27 to $28, indicating strong market demand and investor confidence in Circle's growth potential.