Stablecoin issuer Circle, has officially become a public company, after launching its stock under the ticker CRCL on the New York Stock Exchange (NYSE) at $31 per share. This long-awaited debut follows a successful initial public offering (IPO) that raised over $1 billion, marking a major step for the firm, being one behind USDC, the world’s second-largest stablecoin.
The IPO exceeded expectations after demand for shares surged, having started with a marketed range of $27 to $28 per share. However, with orders reported to be 25 times higher than the number of shares available, the company raised the price to $31 per share, above the initially marketed range.
Circle announced its listing in an X post, saying the company is “now officially a public company on the NYSE under the ticker ‘CRCL.’” The post added that Circle, through USDC, EURC, Circle Payments, and other services, is moving toward a future of “frictionless value exchange.”
In light of this, CEO Jeremy Allaire reflected on the moment by saying, “Our transformation into being a public company is a significant and powerful milestone – the world is ready to start upgrading and moving to the internet financial system.”
He also emphasized Circle’s long-term mission, noting that when the company was founded over a decade ago, the goal was to “build a deeply lasting internet technology platform” and to “raise global economic prosperity through the frictionless exchange of value.”
As Circle begins trading on Wall Street, all eyes will be on how the CRCL stock performs and what this means for the future of stablecoins, blockchain finance, and digital payments.
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