TL;DR
- Circle has filed to list on the New York Stock Exchange under the ticker symbol “CRCL” and aims to raise up to $624 million.
- The plan involves offering 24 million Class A shares, with an option for 3.6 million more if demand allows.
- The move makes it clear that no acquisition by Ripple will take place.
Circle, the company behind the USDC stablecoin, officially announced its intention to list on the New York Stock Exchange under the ticker symbol “CRCL.”
The firm filed for an initial public offering that could raise up to $624 million if it reaches the upper end of its expected price range, set between $24 and $26 per share. The process includes the issuance of 24 million Class A shares, split between 9.6 million offered directly by Circle and 14.4 million from current shareholders.
The Role of Major Banks in Circle’s IPO
The plan also includes an additional option for underwriters to purchase up to 3.6 million extra shares within 30 days if demand warrants it. The group managing the offering is led by J.P. Morgan, Citigroup, and Goldman Sachs, joined by several international banks acting as bookrunners and co-managers.
The stablecoin market remains heavily contested between USDC and Tether. According to DeFiLlama data, USDC holds 25% of the market compared to its main rival’s 60%. Circle’s decision to enter public markets aligns with growing institutional interest in stablecoins and increased scrutiny from U.S. regulators, who are working to define clear guidelines for the issuance and backing of these digital instruments.
End of Ripple Acquisition Rumors
There had been speculation about a possible acquisition of the company by Ripple or Coinbase. However, the confirmation of the IPO puts those rumors to rest and makes it clear that Circle will continue operating independently. The company had initially filed a request with the SEC back in April, though economic tensions, including tariff threats from former president Donald Trump, raised doubts about the IPO’s timing.
Circle is aiming to strengthen its position in a sector where few companies have gone public. So far, only Coinbase has staged a noteworthy market debut in the United States. The launch of “CRCL” will serve as a reference point for assessing the financial viability of stablecoin companies and could help accelerate institutional adoption of these assets
