Stablecoin Giant Circle Files for Initial Public Offering
04/02/2025 04:11
If approved, the stock of the company will be trading on the New York Stock Exchange under the symbol "CRCL."
If approved, the stock of the company will be trading on the New York Stock Exchange under the symbol "CRCL."
Updated Apr 1, 2025, 8:50 p.m. UTCPublished Apr 1, 2025, 8:46 p.m. UTC
Circle, the U.S.-based stablecoin issuer, is going public.
The firm filed an S-1 form with the Securities and Exchange Commission (SEC) on Tuesday. If approved, the company's stock will be trading on the New York Stock Exchange under the symbol "CRCL."
The company said its reserve income from managing its stablecoin-related reserves was $1.7 billion at the end of 2024, representing 99.1% of its total revenue.
Circle is behind USDC, the second largest stablecoin by market capitalization, with $60 billion in supply. The firm's IPO has been one of the most anticipated in crypto.
It's not the only crypto-adjacent company looking to go public. Artificial Intelligence (AI) firm CoreWeave (CRWV), which benefits from a strong business relationship with bitcoin mining firm Core Scientific (CORZ), started trading on the public market on March 28.
Tom Carreras
Tom writes about markets, bitcoin mining and crypto adoption in Latin America. He has a bachelor's degree in English literature from McGill University, and can usually be found in Costa Rica. He holds BTC above CoinDesk's disclosure threshold of $1,000.
