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Circle Internet Group, the fintech firm behind the widely used USDC stablecoin, is preparing to make its public market debut on the New York Stock Exchange under the ticker symbol CRCL. This milestone comes as the company seeks to strengthen its role in shaping the future of digital finance through blockchain-based infrastructure and regulated stablecoins. As part of the offering, Circle plans to issue 9.6 million shares of Class A common stock. In addition, 14.4 million shares will be sold by existing shareholders. The proposed IPO price range is $24 to $26 per share. At the midpoint of the range, Circle would have a market capitalization of approximately $5.4 billion, based on an expected 217.3 million shares outstanding immediately following the IPO.
The IPO is structured as a traditional public offering. Circle expects to raise approximately $213 million in net proceeds, or up to $298 million if underwriters exercise their overallotment option in full. Of those proceeds, $101 million is earmarked for tax withholding related to the settlement of restricted stock units. The remaining funds will support general corporate activities, such as product development, marketing, and potential acquisitions.
The company’s founders will retain control through a dual-class share structure. Specifically, Class B shares—held by co-founders Jeremy Allaire and Sean Neville—will carry five votes per share and represent about 30% of the total voting power after the IPO.
Circle’s Core Business
Founded in 2013, Circle’s mission is to build an open, internet-native financial system. The company issues USDC, a U.S. dollar-backed stablecoin, and EURC, a euro-backed stablecoin, both of which are widely used in digital payments, trading, and decentralized finance applications. Circle’s platform allows institutions to mint, redeem, and transfer stablecoins, and also provides APIs and infrastructure for developers and businesses.
Operating in over 185 countries, Circle has formed partnerships with leading fintechs, exchanges, and payment providers. It differentiates itself from other crypto companies by focusing on compliance, regulatory engagement, and transparency—principles that it believes are key to driving stablecoin adoption at a global scale.
Financial Highlights
Circle has seen rapid revenue growth over the past three years, though margins have narrowed as the company scales and navigates a changing regulatory landscape. The company generated $1.7 billion in revenue in 2024, up from $772 million in 2022. Net income turned positive in 2023, reaching $155.7 million in 2024.
Here’s a snapshot of Circle’s key financial metrics:
Looking Ahead
With IPO proceeds in hand, Circle plans to continue expanding its global operations and developing new products, including tokenized money market funds and programmable payment solutions. The company is positioning itself as a key infrastructure provider in what it refers to as the "internet financial system"—a more open, efficient alternative to traditional banking rails.
Investor interest appears strong. Notably, ARK Invest has expressed interest in purchasing up to $150 million worth of shares in the IPO. Circle’s public debut will give investors a clearer window into the company’s operations and performance as it navigates a fast-evolving regulatory and competitive landscape.
As Circle steps into the public eye, its IPO represents not just a fundraising event, but a broader commitment to transparency, accountability, and leadership in shaping the future of digital currency and global finance.
Circle Internet Group will make it's market debut the week of June 2nd, 2025