Circle Makes History as First Stablecoin Issuer to Go Public on NYSE

Circle Becomes First Major Stablecoin Issuer to Go Public on NYSE

Circle Internet Financial, the company behind the USDC stablecoin, made a landmark debut on the New York Stock Exchange (NYSE) under the ticker symbol CRCL, becoming the first major stablecoin issuer to go public. The company raised over $1 billion by offering 34 million shares at $31 apiece, reaching a valuation of nearly $7 billion before trading opened.

Investor demand was red-hot. Shares opened at $69 and briefly soared above $100 before settling around $83 by market close—an impressive 168% gain on its first day. Multiple trading halts were triggered due to the rapid price swings, signaling intense interest from both retail and institutional investors.

Circle’s listing is a major milestone for the crypto industry. It brings one of the most widely used stablecoins into the public spotlight. USDC, which is fully backed by cash and short-term Treasuries, has over $60 billion in circulation and has facilitated more than $25 trillion in on-chain transactions. Going public puts Circle under the microscope of U.S. regulators and shareholders, adding a layer of transparency and legitimacy to its operations.

Institutional interest is strong. Big names like BlackRock and ARK Invest were reportedly early backers, underscoring Wall Street’s growing appetite for blockchain-based finance. Analysts see Circle’s IPO as a signal that stablecoins are ready for mainstream adoption, especially with a more favorable U.S. regulatory environment emerging.

This successful debut could open the door for other crypto-native companies to follow suit, possibly triggering a wave of future IPOs in the space. It also pressures traditional financial institutions to accelerate their own digital currency strategies as blockchain continues to reshape global finance.