Circle Internet Group, the issuer of the USDC stablecoin, has upsized its IPO once again, pricing shares above its earlier estimates and securing a projected $1.05 billion raise.
📈 IPO Details: $31 Per Share
In a June 4 announcement, Circle revealed it will offer 34 million shares at $31 each, ahead of its June 5 debut on the New York Stock Exchange under the ticker symbol not yet disclosed.
This marks a significant increase from the previously marketed range:
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Original range: 24M shares at $24–$26
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First upsize: 32M shares at $27–$28
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Final terms: 34M shares at $31
The company also gave underwriters a 30-day option to purchase an additional 5.1 million shares.
💵 Valuation & Use of Funds
With over 220 million shares outstanding, Circle’s updated pricing gives it a $6.9 billion valuation, according to SEC filings.
Though Circle does not plan to pay dividends, the company will use proceeds to:
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Cover $111 million in tax obligations
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Invest in product development and expansion
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Explore strategic acquisitions
🏦 BlackRock Eyes 10% Stake
Global investment firm BlackRock reportedly intends to acquire at least 10% of Circle’s stock upon its public debut — a major show of confidence in the stablecoin issuer.
📉 IPO Delay and Comeback
Circle initially filed for its IPO on April 1, but paused plans after Trump’s April 2 tariff announcement disrupted financial markets. The company had previously attempted to go public via a SPAC merger in 2021, but that deal collapsed.
Now, as crypto IPO activity rebounds, Circle joins companies like:
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eToro, which upsized its May IPO to $620M
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Kraken, reportedly eyeing a public offering
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BitGo, gearing up for an IPO after launching OTC trading services in February
🪙 About USDC and Circle
Circle manages USDC, the second-largest stablecoin by market cap behind USDT. USDC plays a key role in DeFi, remittances, and crypto trading, with wide integration across blockchains and exchanges.
Circle’s IPO marks a major milestone in the crypto-to-public-markets pipeline — one that could signal renewed institutional interest in blockchain-backed finance.
For the latest on crypto IPOs and market moves, visit https://cryptodicenews.blog
