Fintech company Circle (Circle Internet Group) is drawing investor attention by recording a price higher than expected in its initial public offering (IPO), based on its status as the issuer of USDC stablecoin. Circle set an initial 34 million shares at $31 per share, exceeding the upper hoped range of $28. This is a significant upward adjustment from the previously announced 32 million shares at an estimated price of $27-28 per share.
This IPO includes 14.8 million newly issued shares by the company and 19.2 million shares from existing shareholders, with underwriters granted an option to purchase up to 5.1 million additional shares within the next 30 days. The stock is set to begin trading on the New York Stock Exchange (NYSE) with the ticker 'CRCL' on the 6th (local time).
Circle's primary business model is providing blockchain-based payment infrastructure through its self-issued USDC stablecoin. USDC currently has a market capitalization of approximately $61.5 billion, ranking 7th among all cryptocurrencies. In this regard, Circle is positioning itself beyond a simple cryptocurrency issuer to a blockchain financial infrastructure company.
The industry believes Circle's successful IPO was predictable due to its solid profitability and stable business expansion even during the cryptocurrency market downturn. Particularly, as the institutionalization of virtual assets accelerates, Circle's position is further highlighted as a company with a structure that can meet regulatory requirements.
International media such as CNBC and Bloomberg evaluated that "Circle's successful IPO signals that investment demand exists even in a flat market situation within the digital asset industry." Experts anticipate that CRCL's future stock price trends will significantly influence cryptocurrency market sentiment.
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