The post Circle Files for NYSE Listing as USDC Market Cap Reaches $60 Billion appeared on BitcoinEthereumNews.com.

TLDR Circle, the company behind USDC stablecoin, has filed for an IPO aiming to list on NYSE under ticker “CRCL” JPMorgan and Citigroup are leading the IPO with a valuation target of $4-5 billion Circle reported $1.68 billion in revenue for 2024 and $156 million in net income This marks Circle’s second IPO attempt after a failed SPAC merger in 2022 The move comes amid improved regulatory climate for crypto under the Trump administration Circle, the company behind the USDC stablecoin, has filed for an initial public offering (IPO) with the Securities and Exchange Commission (SEC). The company plans to list on the New York Stock Exchange under the ticker symbol “CRCL” with JPMorgan Chase and Citigroup serving as lead underwriters. This marks Circle’s second attempt to go public. In 2021, the company tried to enter public markets through a merger with a special purpose acquisition company (SPAC). That deal collapsed in late 2022 due to regulatory challenges and timing issues with the SEC. The IPO filing comes during a time of growth for the stablecoin market. USDC is the second-largest stablecoin by market cap with about $60 billion in circulation, representing roughly 26% of the total stablecoin market. Circle has positioned itself closer to global finance since its failed SPAC attempt. The company moved its headquarters from Boston to One World Trade Center in New York as part of this strategy. Financial Performance Circle reported $1.68 billion in revenue and reserve income for 2024. This marks an increase from $1.45 billion in 2023 and $772 million in 2022. The company posted net income of about $156 million for 2024. This represents a decline from the $268 million reported in 2023. The IPO is expected to value Circle between $4 billion and $5 billion. This valuation is lower than the…

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Filed under: News - @ April 2, 2025 1:26 pm