Circle Internet Group Inc., the company behind the second-largest stablecoin, USDC, today announced the launch of its initial public offering on the New York Stock Exchange.

The IPO includes a total of 24 million shares of Class A common stock, with 9.6 million shares offered by Circle and 1.44 million offered by selling stockholders. The offering price is expected to be between $24 and $26 per share.

Circle will appear on NYSE under the stock ticker symbol “CRCL.”

The launch comes after the company filed confidentially with the U.S. Securities and Exchange Commission in 2024 after having failed to go public in a merger with a special-purpose acquisition company in 2022. Circle had also reportedly held “informal talks” about a possible $5 billion acquisition from global cryptocurrency exchange Coinbase Global Inc. and rival cryptocurrency issuer Ripple Labs Inc., the company said in its announcement.

The firm announced publicly that it intended to go public in April with an SEC S-1 registration but shortly after, the Wall Street Journal reported that the company might delay its offering as a result of tariffs and economic uncertainty.

Founded in 2013, Circle began as a consumer finance company offering blockchain technology solutions for finance and now provides several products for integrating digital currencies into business applications.  

The company is best known as the issuer of USD Coin, a digital currency known as a “stablecoin” launched in 2018, which maintains a near-one-to-one parity with the U.S. dollar. This lack of volatility in value makes stablecoins useful for exchanging between traditional currencies and cryptocurrencies that can fluctuate wildly in value. By market capitalization, USDC is the second largest stablecoin behind Tether, also known as USDT, at $61.4 billion, according to CoinMarketCap.

The company’s IPO comes at a time when the current regulatory climate has been improving support for cryptocurrency and stablecoins.

Most recently, U.S. banking regulators, such as the Federal Deposit Insurance Corporation and Federal Reserve, have withdrawn previous restrictive statements on crypto assets, giving banks more freedom to engage with crypto assets without prior approval. This will allow businesses and cryptocurrency exchanges larger opportunities to operate on U.S. soil.

Circle’s IPO makes for one of the biggest crypto listings since that of the Coinbase Nasdaq market debut four years ago.

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