Circle Internet Group, the company that issues the USDC stablecoin, is planning to go public, it said on May 27. The firm has filed for an initial public offering (IPO) on the New York Stock Exchange under the ticker symbol "CRCL." The IPO price is expected to be $24-$26 a share.

For the uninitiated, a stablecoin is a type of cryptocurrency that is created to maintain a stable value, unlike traditionally volatile cryptocurrencies such as Bitcoin. It is usually pegged to a traditional currency like the U.S. dollar or a commodity like gold. USDC is pegged 1:1 to the USD.

Circle is offering 24 million shares of its Class A common stock, with the stablecoin issuer offering 9.6 million shares and the selling stockholders offering 14.4 million shares. In addition, the firm said it expects to grant the underwriters an option to purchase up to 3.6 million more shares to cover over-allotments within 30 days. JPMorgan, Citigroup, and Goldman Sachs & Co. LLC are acting as joint lead active bookrunners for the offering.

Barclays, Deutsche Bank Securities, and Société Générale S.A. are acting as bookrunners. Circle's decision to go public is another milestone for the crypto industry, as the largest exchange in the U.S., Coinbase (Nasdaq: COIN), which went public in 2021, only recently joined the S&P 500 club. The stablecoin giant applied with the Securities and Exchange Commission (SEC) in April to get listed and now has taken another step forward.

It has also denied reports regarding its acquisition by either Ripple or Coinbase. As per DeFiLlama, the stablecoin market is worth $2.47 billion, with USDC occupying 25% share and its rival, Tether's USDT, occupying 60% share. Stablecoin issuer Circle files to go public first appeared on TheStreet on May 27, 2025