Sign in Subscribe
Cryptocurrency

Stablecoin Giant Circle Files for IPO After $1.7B Stablecoin Reserve Windfall

L1QU2D

L1QU2D

— 3 min read
Stablecoin Giant Circle Files for IPO After $1.7B Stablecoin Reserve Windfall
1. Visual prompt: Create an image of a digital fin...
A digital financial market scene with various cryptocurrency symbols and stock tickers floating in the air, including "CRCL" for Circle's IPO, against a futuristic backdrop to represent the intersection of blockchain technology and traditional finance.

Stablecoin creator Circle has recently applied for an Initial Public Offering (IPO), following a successful $1.7 billion windfall from its stablecoin reserves.

Circle, known for issuing the USDC stablecoin, has filed paperwork with the Securities and Exchange Commission (SEC) to have its shares listed on the New York Stock Exchange under the ticker symbol "CRCL."

At the close of 2024, Circle announced that it had accumulated $1.7 billion in income from managing its stablecoin reserves, accounting for a significant portion of its overall revenue.

The company's move to go public has been eagerly anticipated within the cryptocurrency industry due to its longstanding efforts to enter the stock market and become publicly traded.

2. Visual prompt: Illustrate a stylized representa...
A stylized representation of a stablecoin reserve, with stacks of digital coins forming an impressive $1.7 billion total, symbolizing the financial success of Circle's stablecoin operations and its impact on the cryptocurrency market.

Stablecoin Giant Circle Files for IPO After $1.7B Stablecoin Reserve Windfall

If approved, the stock of the company will be trading on the New York Stock Exchange under the symbol "CRCL."

  • Circle, the issuer of the USDC stablecoin, is planning to go public.
  • The company has filed an S-1 form with the SEC to list on the New York Stock Exchange under the symbol CRCL.
  • Circle reported $1.7 billion in reserve income from its stablecoin operations at the end of 2024.

Leading financial institutions such as JPMorgan Chase, Citigroup, Barclays, Deutsche Bank, and SG Americas are involved in Circle's IPO process.

Interestingly, other crypto-related companies like Ripple, Kraken, and Gemini have also expressed interest in going public following the inauguration of Trump. Moreover, AI company CoreWeave (CRWV), affiliated with bitcoin mining firm Core Scientific (CORZ), commenced trading on March 28.

UPDATE: More details regarding Circle's previous attempts at going public have been disclosed.

According to a press release, JPMorgan Chase will act as the lead left active bookrunner in collaboration with Citigroup. Barclays, Deutsche Bank and SG Americas are also part of the syndicate.

3. Visual prompt: Design an image showcasing a lin...
An image showcasing a lineup of well-known financial institutions like JPMorgan Chase, Citigroup, Barclays, Deutsche Bank, and SG Americas, symbolizing their involvement in Circle's IPO process and the increasing integration of traditional financial players into the digital finance space.

Circle is not the only crypto-adjacent company looking to go public. Since Trump's inauguration, several crypto companies have doubled down on their plans, including Ripple, Kraken, and Gemini, which are all rumored to be eyeing IPOs.

Artificial Intelligence (AI) firm CoreWeave (CRWV), which benefits from a strong business relationship with bitcoin mining firm Core Scientific (CORZ), started trading on the public market on March 28.

UPDATE (April 1, 21:14 UTC): Adds more information on Circle’s history of going public.

Read more