Stablecoin Issuer Circle Files for IPO on NYSE

Boston-based fintech firm Circle, which issues the USD Coin (USDC) stablecoin, submitted a Form S-1 to the U.S. Securities and Exchange Commission (SEC) last week, moving forward with its plans to go public through a traditional initial public offering (IPO).

The company stated that it intends to list its Class A common stock on the New York Stock Exchange (NYSE) under the ticker symbol “CRCL.”

S1: https://t.co/exVZJYSd1F

— db (@tier10k) April 1, 2025

The IPO’s pricing range has not been disclosed. The offering’s timing will depend on regulatory approval and broader market conditions.

This marks Circle’s second attempt to go public, following a failed $9 billion SPAC merger in 2022.

USDC’s Role in DeFi and Market Sentiment

Circle’s stablecoin, USDC, remains the second-largest by market capitalization and is frequently used in digital payments and decentralized finance (DeFi).

Analysts have noted that a successful IPO could serve as a bellwether for sentiment in the broader crypto sector, especially amid ongoing scrutiny from regulators toward stablecoin issuers.

Circle Strengthens IPO Push With Big Bank Backing

To support its latest IPO bid, Circle has brought on JPMorgan Chase and Citi as lead underwriters, according to a report from Fortune. A public filing is expected to follow in late April.

📑 USDC issuer @circle is reportedly reviving its IPO plans with a public filing expected by late April, with JPMorgan and Citi set to manage the offering.#Circle #USDChttps://t.co/Y64xTIRjDx

— Cryptonews.com (@cryptonews) April 1, 2025

The company is reportedly targeting a valuation between $4 billion and $5 billion.

If completed, the offering would represent one of the most high-profile public listings in the crypto industry since Coinbase debuted in 2021.