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Circle Internet Group has officially filed for an initial public offering on the New York Stock Exchange aiming to raise up to $250 million. The company behind the popular USDC stablecoin will offer 24 million class A shares priced between $24 and $26. Of these 9.6 million shares are from Circle while 14.4 million will be sold by existing stakeholders. The ticker symbol will be CRCL.
The move signals a major step forward for Circle which has spent nearly four years trying to go public. Its earlier 2021 SPAC deal fell apart but now Circle is pushing ahead backed by major financial institutions including J.P. Morgan Citigroup and Goldman Sachs. The company also filed its S-1 with the SEC in April.
Circle’s IPO is a positive signal for the crypto industry and the USDC ecosystem. With support from crypto players like Coinbase and Ripple the listing could strengthen stablecoin adoption and bring more legitimacy to digital assets.
