Circle has priced its initial public offering at $31 per share, higher than expected, ahead of its June 5 debut on the New York Stock Exchange.
According to a June 4 report from Reuters, the stablecoin issuer raised $1.05 billion by selling 34 million shares, valuing the company at roughly $8 billion on a fully diluted basis. Circle IPO was originally expected to price between $27 and $28 per share, but strong demand pushed the price and share count higher.
Circle had initially aimed to raise $624 million by selling 24 million shares. That plan was later revised to 32 million shares, then increased again as interest grew.
Founded in 2013, Circle is the company behind USD Coin (USDC), the second-largest stablecoin by market cap, with over $61 billion in circulation. The firm has attempted to go public twice before, once through a SPAC deal in 2021 and again earlier this year, which was paused due to market uncertainty tied to President Trump’s trade policy shifts.
This time, Circle also granted underwriters a 30-day option to buy an additional 5.1 million shares, which could bring in even more capital. According to reports, BlackRock had expressed interest in purchasing roughly 10% of the shares, either directly or through an affiliate, indicating continued interest from major traditional finance players.
The funds raised will be used for possible acquisitions, international expansion, and product development. Circle has stated that it intends to reinvest in the company rather than pay dividends at this time.
This listing is a significant step for the crypto industry’s push into mainstream financial markets and is among the biggest IPOs of the year. It also comes at a time when several other cryptocurrency companies, including BitGo, Kraken, and eToro, are considering going public.
With lighter crypto regulation expected under the current Trump administration, Circle’s IPO may pave the way for additional blockchain companies to follow suit,
