Circle Aims for $6.7 Billion Valuation in US IPO, Signaling Robust Crypto Market Revival

On Tuesday, Circle Internet announced it aims for a valuation reaching up to $6.71 billion (approximately Rs. 57,404 crore) on a fully diluted basis in its initial public offering in the US, as the prominent stablecoin entity seeks to leverage the increasing optimism surrounding cryptocurrency.

Based in New York, Circle and several current investors plan to generate up to $624 million (about Rs. 5,339 crore) by offering 24 million shares, with individual prices ranging from $24 (around Rs. 2,053) to $26 (roughly Rs. 2,225).

The administration of US President Donald Trump has shown support for cryptocurrencies and committed to a more «reasonable» regulatory framework for digital assets, encouraging firms within the sector to pursue public listing.

«The prospects for crypto IPOs are brighter now than they have been in the last three years,» stated Matt Kennedy, a senior strategist at Renaissance Capital, which specializes in IPO research and ETFs.

Progress in trade negotiations between the US and significant trading allies has revitalized the IPO landscape, prompting firms to proceed with stock market offerings as tariff-related fluctuations have subsided.

Circle intends to offer 9.6 million shares, while investors selling their stakes, including venture capital firms Accel and General Catalyst, will provide 14.4 million shares.

Cathie Wood’s ARK Investment Management has expressed interest in purchasing shares of Circle totaling up to $150 million (approximately Rs. 1,283 crore) during the IPO.

This listing would represent one of the largest crypto-related market entries since Coinbase Global’s introduction to the stock market in 2021. Mike Novogratz’s Galaxy Digital also made its Nasdaq debut earlier this month.

Circle previously sought to go public through a $9 billion (around Rs. 77,019 crore) SPAC deal backed by Bob Diamond; however, that agreement collapsed in late 2022.

«Circle’s return to the public markets indicates a regained trust — albeit at a 25 percent lower valuation, reflecting more practical market conditions and tempered expectations,» remarked analyst Bo Pei from US Tiger Securities.

Stablecoin Focus

Established in 2013, Circle is the creator of USDC, which boasts a market capitalization exceeding $60 billion (around Rs. 5,13,466 crore) and is the second-largest stablecoin following Tether, according to data from crypto market tracker CoinGecko.

Stablecoins are a type of cryptocurrency typically linked to a fiat currency, like the US dollar. In addition to USDC, Circle also offers the euro-pegged stablecoin EURC.

Circle’s IPO coincides with the progression of a stablecoin bill in the US Senate, which could further facilitate the acceptance of these digital assets.

J.P. Morgan estimates that the stablecoin market could expand to between $500 billion (approximately Rs. 42,77,116 crore) and $750 billion (around Rs. 64,15,672 crore) in the coming years.

Circle will be listed on the New York Stock Exchange under the ticker symbol «CRCL». J.P. Morgan, Citigroup, and Goldman Sachs will be the lead underwriters.

© Thomson Reuters 2025

(This story was generated automatically and has not been modified by NDTV staff.)