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Stablecoin Giant Circle Files for IPO on NYSE
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Parikshit Mishra
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By Parikshit Mishra|Edited by Aoyon Ashraf
Updated May 27, 2025, 11:48 a.m. Published May 27, 2025, 11:27 a.m.
- Circle Internet Group has filed for an IPO on the New York Stock Exchange.
- The company is offering 24 million class A shares, with 9.6 million from the firm and 14.4 million from stakeholders.
- The shares are expected to be priced between $24 and $26, trading under the ticker ‘CRCL’.
Circle Internet Group, the firm behind stablecoin USDC, has filed for an initial public offering on the New York Stock Exchange, the firm said on Tuesday.
Circle is offering 24 million of its class A shares, out of which 9.6 million is being offered by the firm, while 14.4 million shares are being offered by selling stakeholders. It also expects to grant the underwriters a 30-day option to buy up to 3.6 million shares.
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The IPO price is expected to be between $24 and $26 per share. Based on the higher end of the range, Circle could raise almost $250 million, while the selling stakeholders could get nearly $375 million for their stake.
J.P. Morgan, Citigroup, and Goldman Sachs & Co. LLC are acting as joint lead active bookrunners for the offering. The stablecoin giant will trade under the ticker ‘CRCL.”
The Jeremy Allaire-led firm has been trying to go public for almost 4 years. In 2021, Circle tried to go public through a special purpose acquisition company (SPAC), which later fell through.
In April, the firm filed for an S-1 form with the Securities and Exchange Commission (SEC) in order to get listed. However, it was later reported that the USDC-issuer was looking to delay its IPO.
Last week, Fortune reported that Circle also explored a $5 billion sale instead of going through the IPO route. It was also reported that listed crypto exchange Coinbase (COIN) and payments firm Ripple, which also has its RLUSD stablecoin, were among the suitors.
Read more: Circle Has Explored Potential $5B Sale to Coinbase or Ripple Instead of IPO: Report
UPDATE (May 27, 11:47 UTC): Adds additional details on Circle’s IPO history.
Parikshit Mishra is CoinDesk’s Regional Head of Asia, managing the editorial team in the region. Before joining CoinDesk, he was the EMEA Editor at Acuris (Mergermarket), where he dealt with copies related to private equity and the startup ecosystem. He has also worked as an Senior Analyst for CRISIL, covering the European markets and global economies. His most notable tenure was with Reuters, where he worked as a correspondent and an editor for various teams. He does not have any crypto holdings.
