Circle, the company behind the USDC stablecoin, completed a highly successful initial public offering (IPO) that raised $1.1 billion and signaled growing institutional acceptance of digital assets.
Circle's Blockbuster IPO Raises $1.1 Billion as Stablecoins Approach Mainstream Finance
13 June 2025 - 12:03 CEST
The Boston-based company sold 34 million shares at $31 each, surpassing its target price range and expanding the offering by 10 million shares due to overwhelming investor demand, according to a company statement.
Crypto firms are successfully raising capital by selling ownership stakes to the public amid an improving business environment for IPOs and as digital assets attract more interest from TradFi (or traditional finance). Circle’s IPO success points to the growing acceptance of stablecoin issuers among some of the biggest players in banking and asset management.
TradFi interest
BlackRock, the world’s largest asset manager, planned to acquire 10% of the shares offered, according to Bloomberg. Meanwhile, Circle’s own statement highlighted that established TradFi titans such as JP Morgan, Citigroup and Goldman Sachs have been arranging the sale.
Having initially valued the company at about $7 billion for the IPO, the stock more than doubled at the opening of the New York Stock Exchange on 5 June. With two days of trading remaining this week, the stock trading under the CRCL symbol has already in a matter of hours surged to a market capitalization of nearly $18 billion.
Legitimate assets
Stablecoins are cryptocurrencies valued at the same price as a traditional asset such as fiat currency (for example, the US dollar) or gold. They are increasingly being seen as legitimate assets within finance. Legislators in the US are currently working on new regulation for stablecoins that would reassure investors and improve the public perception of the assets.
With $61 billion in USDC in circulation, according to Circle's transparency page, the coin accounts for almost 30% of the stablecoin market.
