Odaily News Circle, the issuer of stablecoin USDC, has raised its IPO issuance plan, intending to issue 32 million Class A common shares at a price of $27 to $28 per share, an increase from the previously planned 24 million shares and a pricing range of $24 to $26. If calculated at the upper limit of the price range, Circle's IPO valuation will reach $7.2 billion, and it plans to raise up to $896 million in funds.
Circle plans to list on the New York Stock Exchange under the ticker "CRCL". Previously, the company's registration documents submitted to the U.S. Securities and Exchange Commission on May 27 showed that the original planned valuation was slightly lower. The increase shows that market investors are very interested in it, and institutions including BlackRock have expressed strong support.
Circle is the issuer of USDC, the world's second largest stablecoin by market value. Although its revenue scale is not as large as that of its competitor Tether, Circle achieved a 55.1% growth in the first quarter of 2025, reaching US$557.9 million thanks to US Treasury returns. Standard Bank predicts that by the end of 2028, the total market value of the stablecoin market is expected to increase tenfold. (The Block)