Circle Internet Group’s IPO on the NYSE has exceeded all expectations, raising $1.1 billion, $200 million more than initially expected. The stablecoin issuer USDC sold its 34 million shares at around $31 each.
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Circle hits Wall Street hard with oversized IPO
The issuer of stablecoin USDC, Circle Internet Group created a surprise in the traditional markets. While it was still aiming to raise $896 million at a valuation of $7,2 billion two days before its listing. on the stock market, Circle revised its ambitions upwards in the final hours before the IPO.
Under the leadership of its CEO Jeremy Allaire the company and its shareholders finally sold 34 million shares at $31 each, above the expected range of $27 to $28, generating $1,1 billion in revenues, 23% more than the initially announced target.
According to Bloomberg This oversubscription reflects the strong interest of institutional investors such as ARK Invest and BlackRockThe latter plans to take up to 10% of the offer.
This success is also attributable to the quality of the system put in place. The involvement of JP Morgan, Citigroup and Goldman Sachs as global coordinators of the IPO reinforced the credibility of the operation. On a structural level, Circle opted for a balanced distribution of shares: of the 34 million shares sold, a portion was issued directly by the company, with the remainder coming from existing shareholders.
The post-IPO structure also reveals a balance between growth and control. The founders Jeremy Allaire and Sean Neville will retain decision-making influence through Class B shares with enhanced voting rights, while opening up the capital to new investors.
The funds, estimated at over $200 million net after tax and other expenses, will be used primarily for research, international expansion and infrastructure building.
USDC, a reference stablecoin for regulated markets?
THE USDC is the world’s second-largest stablecoin, with a capitalization of $60,9 billion according to recent data. This position is underpinned by a differentiated approach focusing on regulatory compliance and reserve transparency. Each USDC token is backed by equivalent reserves, mainly composed of US Treasury bills managed by BlackRock via the Circle Reserve Fund.
Circle’s financial results show that its model is working well: in the first quarter of 2025, its revenues jumped by 55% to almost $558 million, mainly thanks to the interest generated by the reserves that support the USDC. Since its launch, more than $1,000 billion in USDCs have been issued.with on-chain transactions exceeding $25,000 billion.
This operational structure meets the requirements of both institutional and retail users regulated jurisdictions. USDC has thus established itself as the benchmark for decentralized finance applications, international B2B payments and corporate treasury solutions, segments less accessible to its main competitor Tether (USDT).
Circle’s IPO at $1,1 billion, confirms that traditional financial markets are now taking crypto companies seriously. By focusing on compliance and transparency, Circle is paving the way for wider adoption of crypto payments in the global economy.
As a journalist at Coinpri, I’ve been captivated by the world of bitcoin and blockchain since 2020. The decentralized aspect of Bitcoin particularly piqued my interest. Since then, I’ve been working constantly to spread my knowledge, hoping one day to see a world where everyone fully enjoys their financial freedom.
