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Circle sold 34 million shares at $31 each, raising $1.1 billion in its IPO.
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The firm’s market value could reach $6.9 billion, with a diluted valuation of $8.1 billion.
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The IPO exceeded Circle’s earlier estimate of $896 million.
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Circle is the issuer of USDC, the second-largest stablecoin.
Strong Demand Drives Upsized IPO
Circle, the company behind the USDC stablecoin, has raised approximately $1.1 billion in its public debut, beating its previous forecast. The firm sold 34 million shares at $31 apiece, well above its initial target price range.
Bloomberg reported that Circle’s valuation could now exceed $6.9 billion, with a fully diluted value around $8.1 billion.
IPO Projections Surpassed
Just two days before the IPO, Circle was targeting a lower raise of $896 million based on a $27–28 share price. The original plan expected $600 million in proceeds with a $5 billion valuation, but demand quickly escalated.
Growing Stablecoin Sector and Regulatory Focus
Circle's USDC stablecoin currently has a $60.9 billion market cap. The IPO comes at a time of growing stablecoin adoption and rising regulatory scrutiny. The GENIUS Act, which aims to define stablecoin oversight in the U.S., is progressing in Congress and could reshape the legal landscape for firms like Circle.
