Circle Soars on NYSE Debut: A New Era for Stablecoins and Crypto Public Listings
USD Coin (USDC) stablecoin issuer Circle's successful public offering signals growing mainstream acceptance of digital assets
Quick overview
- Circle Internet Group made a significant debut on the NYSE on June 5, 2025, with shares rising 168% on the first day of trading.
- The company raised $1.05 billion through its IPO, valuing Circle at approximately $6.8 billion initially, which surged to nearly $18 billion post-trading.
- This IPO is notable as it is the largest crypto listing since Coinbase's launch and the first major public offering by a stablecoin issuer.
- Circle's success reflects growing institutional interest in cryptocurrencies and the increasing acceptance of digital assets in traditional finance.
On June 5, 2025, Circle Internet Group created a big splash in the public markets. On its first day of trading on the New York Stock Exchange, shares of the stablecoin issuer rose 168%. The company’s stock opened at $69 per share, which was a lot more than the $31 it was worth when it went public. It then closed at $83.23 after hitting an intraday high of $103.75.
The Boston-based business that issues USDC, the world’s second-largest stablecoin, raised $1.05 billion through an initial public offering that was larger than planned and priced above the projected range of $27 to $28 per share. Before trading started, the offering sold 34 million shares, which put Circle’s value at about $6.8 billion. After the market opened, it was worth almost $18 billion on a fully-diluted basis.
“This morning we had Circle going public in what I can only call a blowout deal,” said Lynn Martin, president of NYSE Group. This shows how much investors wanted to buy shares in the company, which led to its value skyrocketing.
The IPO is a big deal for the cryptocurrency industry. It is the biggest crypto listing since Coinbase’s 2021 launch and the first major public offering by a stablecoin issuer. Along with Coinbase, Mara Holdings, and Riot Platforms, Circle is one of the few pure-play crypto businesses that trade on U.S. exchanges.
Circle was started in 2013 by Jeremy Allaire and Sean Neville. It has become a link between traditional finance and digital assets. The company makes USDC, a stablecoin that is tied to the dollar and is the second-largest stablecoin in the world by market valuation, after Tether’s USDT. Circle also makes EURC, a stablecoin that is based on the euro.
The successful public debut comes at a time when the Trump administration has made it easier for cryptocurrency companies to do business. This is a big change from the way things used to be. This change has made people more hopeful about the future of digital assets and made additional crypto companies think about going public.
Matt Kennedy, a senior strategist at Renaissance Capital, stated, “The more crypto companies that go public, the easier it will be for future crypto companies.” “The number of deals is important, but so is the variety—having publicly traded companies in the crypto ecosystem.”
Many big institutions were interested in Circle’s IPO. BlackRock was said to be interested in buying a 10% stake in the offering, and Cathie Wood’s ARK Investment was said to be interested in buying $150 million worth of shares. Some early investors, meanwhile, were unhappy with the way the money was divided up. For example, Arca Chief Investment Officer Jeff Dorman openly criticized Circle for what he thought was an unfair amount given to the crypto-focused investment business.
Circle’s public launch comes at a time when stablecoins are becoming more popular with the general population, not just as a way to trade cryptocurrencies. Because stablecoins are more efficient and cheaper than traditional payment rails, banks and payment businesses are looking at them more and more for cross-border remittances, business-to-business payments, and e-commerce.
Jacob Zuller, an analyst at Third Bridge, said, “Public markets have accepted that crypto is not going away.” This shows that more institutions are accepting digital assets.
Analysts on Wall Street think that stablecoins might become a market worth trillions of dollars in the next five years. They also think that new laws from Congress could speed up their use even more. The stablecoin measure that is currently in Congress could create clearer rules that make digital tokens more popular.
There were some bumps along the way for Circle to get to the public marketplaces. The company tried to go public before by merging with a $9 billion SPAC, but the deal fell through in late 2022 because of unclear rules. Jeremy Allaire, the CEO, said that the company’s focus on following the rules and building good connections with regulators has been very important to its success.
“We needed to work with policymakers and build relationships with governments to make our vision a reality,” Allaire told CNBC. “We’ve been one of the most licensed, regulated, compliant, and open companies in the history of this industry, and that’s worked out well for us.”
The company just released Circle Payments Network, which lets businesses utilizing USDC stablecoins settle payments across borders in real time. This shows that the company is committed to finding more ways for digital assets to be used in traditional finance.
Circle’s launch as the first major stablecoin issuer to go public marks a new chapter in the cryptocurrency industry’s integration with traditional capital markets and mainstream financial services.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Related Articles
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
