Circle’s IPO on NYSE drives demand for stablecoins
- Circle made a strong debut on the New York Stock Exchange with an IPO priced at $31 per share.
- The stock price surged above $96 during the day and closed at $83.23.
- The IPO signifies Circle's prominent role in the stablecoin market and reflects increasing interest in regulatory developments.
On June 05, 2025, in the United States, Circle, a prominent issuer of stablecoins, made a significant entrance onto the New York Stock Exchange. Interest surrounding Circle's initial public offering (IPO) was apparent, having priced shares at $31, exceeding initial projections between $27 and $28. The offering included 34 million shares, up from an anticipated 32 million, reflecting growing investor demand. Circle's stock price witnessed an impressive surge, climbing over $96 during the day before closing at $83.23. The offering marked one of the largest public listings for a cryptocurrency-related entity since Coinbase's IPO in 2021. The cryptocurrency sector has faced considerable scrutiny and competition, notably from Tether, the dominant player in the stablecoin market with its USDT stablecoin, valued at around $150 billion. Circle’s USDC stablecoin, on the other hand, stands as the second most significant stablecoin, holding a market cap of about $60 billion and enabling over $25 trillion worth of on-chain transactions since its launch in 2018. Circle reported remarkable revenue growth, surging from $15 million in 2020 to an impressive projection of $1.7 billion for 2024. The company's profitability derives from collecting interest on the assets held to back its stablecoins, supported by reserves including cash, short-dated US Treasuries, and agreements with leading global banks. These financial dynamics underscore Circle's strong position in the evolving cryptocurrency landscape. The timing of Circle's IPO coincides with a broader push for regulatory frameworks governing stablecoin issuers in the United States. Recent bipartisan support has facilitated the advancement of a Senate bill aimed at providing guidelines for the industry. As competition in the stablecoin sector grows, Circle emphasizes its committed values and legacy in striving to raise global economic prosperity through seamless value exchange. This IPO serves not only as a milestone for Circle but also demonstrates the ongoing evolution and acceptance of stablecoins within the broader financial ecosystem.