Circle raises 1.529 trillion won through IPO… BlackRock and Ark Invest make large-scale investments

Circle, the issuer of USDC, has raised $1.1 billion through an initial public offering (IPO). BlackRock secured a 10% stake, and Ark Investment placed an order for $150 million, drawing significant institutional attention. According to Bloomberg, Circle's IPO stock offering is expected to exceed initial estimates. Demand has reportedly exceeded the supply of stocks by more than 25 times. Circle and existing investors had planned to raise $896 million in the $27-28 per share range. Sources indicate that Circle modified its original plan of issuing 24 million shares at $24-26 to expand to 32 million shares. USDC, the stablecoin issued by Circle, recorded a 29% market share in the stablecoin market as of March this year. Through this IPO, Circle's market capitalization is expected to reach $6.2 billion. Circle is set to be listed on the New York Stock Exchange with the ticker 'CRCL', with JP Morgan Chase, Citigroup, and Goldman Sachs as lead underwriters. Ark Investment, led by Cathie Wood, has expressed intent to purchase $150 million in shares, while BlackRock plans to acquire 10% of the total issued volume. Meanwhile, the US Congress is reviewing stablecoin regulation bills. The STABLE and GENIUS bills are expected to proceed to the next stage after passing through the House and Senate respectively.