Circle Internet Group, the company behind the USDC stablecoin, made a dramatic entrance onto the New York Stock Exchange under the ticker CRCL, with its stock price more than tripling on its first day of trading. The IPO was priced at $31 per share, above the expected range, and shares opened at $69 before surging to a high of $103.75 amid intense volatility and multiple trading halts.
By the close of its debut session, CRCL shares settled at $83.23, marking a 168% gain and valuing the company at nearly $18 billion on a fully diluted basis The IPO raised approximately $1.1 billion, with Circle planning to use the proceeds for investment in new products, potential acquisitions, and expanding awareness of its platform.
Circle’s successful public listing is seen as a milestone for the crypto sector, signaling strong institutional support for regulated digital assets and potentially paving the way for more crypto-related IPOs in the U.S. As the issuer of USDC, the world’s second-largest stablecoin, Circle’s market debut is viewed as a significant step toward integrating digital currencies into mainstream finance.
