Circle Sets the Stage for NYSE IPO with USDCs Public Debut

The issuer of the stablecoin USDC, Circle, has filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC).

This development marks the implementation of previously announced plans to go public.

The Class A shares will be listed under the ticker CRCL on the NYSE. Details regarding the number of shares and the expected offering price have not been disclosed.

“For Circle, becoming a publicly traded company on the New York Stock Exchange is a continuation of our commitment to operate with the utmost transparency and accountability,” stated Circle’s CEO, Jeremy Allaire.

According to the SEC filing, the issuer has experienced some «ups and downs» in recent years: from a net loss of $768.8 million in 2022 to a profit of $267.6 million in 2023. At the end of last year, Circle had $1.05 billion in liquid assets, including $751 million in cash.

Several major investment banks, including JPMorgan and Citigroup, are among the underwriters for Circle’s IPO.

USDC remains the second most popular stablecoin with a market capitalization of $60 billion, according to CoinGecko. Its main competitor, USDT from Tether, currently leads the stablecoin market with a market cap of $144 billion.

Allaire referred to USDC as the «foundation of Circle’s stablecoin network,» which has facilitated over $25 trillion in transactions as of March 28, 2025.

Millions of end users utilize the «stablecoin» for payments, settlements, and as a digital savings medium, the CEO added.

It’s worth recalling that in November 2023, Bloomberg journalists reported on Circle’s intention to go public in 2024. In January 2024, the company submitted a confidential IPO application in the U.S.