Circle, the company behind the USDC stablecoin, has officially filed for an Initial Public Offering (IPO), aiming to list its CRCL stock on the NYSE. This move not only ends speculation about a possible acquisition by Coinbase or Ripple, but also comes at a crucial time as stablecoin regulation edges closer to becoming law.
Circle Files for NYSE Listing
According to its official statement, Circle Internet plans to raise up to $624 million through the IPO, which will value the company at $5.65 billion. The IPO includes the sale of 9.6 million new shares, while current shareholders plan to offer 14.4 million additional shares.
The stock will trade under the ticker “CRCL” on the New York Stock Exchange, pending regulatory approvals. Circle has priced shares between $24 and $26 each.
Top investment banks like Goldman Sachs, JPMorgan, and Citigroup will serve as bookrunners for the offering, highlighting strong institutional backing.
Ripple Buyout Rumors Shut Down
Circle’s IPO filing also lays to rest recent rumors of a Ripple acquisition. Reports claimed Ripple had made an offer, but it fell short of expectations.
The IPO announcement coincided with a major shift on Polymarket, where the odds of the IPO approval jumped from 70% to 90% in just one day, signaling market confidence in the deal going through.
Stablecoin Bill Nears Approval
The IPO comes as U.S. lawmakers advance the GENIUS Act, a bill aimed at regulating USD-pegged stablecoins. The legislation is now just one step away from becoming law, and its approval could transform the stablecoin landscape.
Circle’s timing appears strategic, aligning with growing regulatory clarity that could benefit USDC adoption in both retail and institutional sectors.
Rising Competition in Stablecoin Market
Despite USDC being the second-largest stablecoin after Tether, competition is heating up.
- Ripple has launched its own stablecoin, RLUSD, which already boasts a $300 million market cap.
- Wall Street banks are also reportedly collaborating on a joint stablecoin initiative, which may reshape the market dynamics, as noted by crypto analyst Arthur Hayes.
A recent Citigroup survey estimates that the stablecoin market could reach $1.6 trillion by 2030, indicating massive growth potential—and intense competition ahead.
