Circle Plans $624 Million IPO on NYSE

Circle, the issuer of the USDC stablecoin, has announced its intention to go public through an initial public offering (IPO) on the New York Stock Exchange (NYSE) under the ticker symbol “CRCL.” The company plans to offer 24 million shares of Class A common stock, with 9.6 million shares to be issued directly by Circle and 14.4 million shares to be sold by existing shareholders.

The IPO is expected to price between $24 and $26 per share, potentially raising up to $624 million. Circle itself will receive around $250 million from its share of the deal. However, if underwriters exercise their full overallotment option to purchase an additional 3.6 million shares, the stablecoin issuer could raise $343.2 million. The offering is subject to regulatory approval and broader market conditions.

Circle’s IPO move is backed by major US financial institutions, including JPMorgan Chase, Goldman Sachs, and Citigroup, who are leading the process as joint active bookrunners. Other leading banks, such as Barclays, Deutsche Bank Securities, and Société Générale, will act as bookrunners. Additional support comes from BNY Capital Markets, Canaccord Genuity, Needham & Company, Oppenheimer & Co., and Santander, which are listed as co-managers. AmeriVet Securities, Drexel Hamilton, Mischler Financial Group, and Roberts & Ryan will serve as junior co-managers.

This IPO filing signals Circle’s growing ambitions in traditional finance. The move would give investors a new channel for exposure to the expanding stablecoin market, and Circle’s success could set a precedent for other crypto-native firms eyeing public listings. Notably, Circle’s move arrives amid renewed institutional interest in digital assets. Recently, reports suggested that top US banks, including JPMorgan, are collaborating on a stablecoin project. It also follows recent speculation linking Ripple and Coinbase to a potential acquisition of Circle. However, the stablecoin issuer has denied these reports.