Circle Internet Group, a leading stablecoin issuer that is well-positioned to benefit from the future of digital money, is expected to float its shares on the NYSE this week.
Shares of Circle have been priced above its expected range at $31 a share, delivering a $6.8 billion valuation. Its ticker symbol has been set at CRCL. Initially, shares were expected to be priced at between $24.00 and $26.00 per share, so this is a significant increase.
Circle generated approximately $1.76 billion in revenue in 2024, delivering net income of over $155 million for the year.
The first three months of 2025 indicate a fast-growing operation as the company expands its services.
As of March 31, 2025, USDC, Circle’s dollar-based stablecoin, has been used for more than $25 trillion in on-chain transactions, with $5.9 trillion in onchain transactions occurring in the first quarter of 2025. This represents about a 500% increase from the first quarter of 2024.
Not too long ago, there was industry chatter suggesting that Circle might be acquired in a private transaction. Apparently, that did not pan out.
And then, several years ago, a SPAC was in the works. The initiative failed due to hesitancy to approve the transaction, but the wait may have been worth the effort.
Today, in a much more supportive environment, the Circle IPO may be the biggest Fintech offering of the year.
Circle has always been compliance-first and is currently the second-largest stablecoin issuer in the world. The company’s focus on regulation bodes well for its future, given the new digital asset rules on the horizon for the US and other jurisdictions.
Beyond the real-time settlement of payments, starting with cross-border payments via USDC and EURC, Circle holds a plethora of opportunities for the future of digital money. While typically lumped with the broader crypto ecosystem, it is better to think of the company as the payment rails of the future, augmented with shiny new technology that makes value transfer programmable.
Circle views the internet financial system as inevitable, and they are spot on.
Circle is already regulated in multiple jurisdictions, including the UK, where it holds an Electronic Money Institution license, and in Singapore, where it holds a Major Payment Institution License (MPI). There are other approvals with more in the works.
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