Circle Internet Financial is aiming to achieve a valuation of $7.2 billion in the expanded IPO, according to the announcement on June 2nd. This move reflects increasing investor interest, with the company expecting to raise up to $896 million through the sale of 32 million shares.
Initially, Circle planned to offer 24 million Class A common shares at a price of $24–26 per share. Now, the expected price has increased to $27–28 per share. Previously, the SPAC merger plan in 2022 (which was later canceled) had valued Circle at $9 billion. Major names like BlackRock have also shown strong support for this IPO.
Circle is the issuer of USDC – the second-largest stablecoin by market capitalization. Although its revenue is lower than Tether's, Circle has recorded a 55.1% increase in treasury bond profits, reaching nearly $558 million in Q1/2025.
Stablecoin application is increasingly growing, especially due to clearer legal environments and demand outside the crypto field. Standard Chartered predicts the stablecoin market capitalization could increase tenfold by the end of 2028. A recent Artemis survey also shows that B2B transactions using stablecoins have for the first time occupied the largest proportion of total trading volume.
Circle plans to list on the New York Stock Exchange with the ticker CRCL. The official IPO date has not been announced as of June 2nd. Previously, the IPO planned for late April was delayed due to macroeconomic instability during tariff negotiations under the Trump administration.
Recently, there were rumors that Coinbase and Ripple had discussed acquiring Circle, but company representatives stated they have no intention of pursuing any M&A deals.
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The article first appeared on CoinMoi.
