Circle Internet Financial, the company behind the USDC stablecoin, made a dramatic entrance on the New York Stock Exchange (NYSE), with its shares surging as much as 160% during its trading debut on June 5.
The explosive rally followed the company’s initial public offering (IPO) priced above the anticipated range, indicating strong investor demand and renewed enthusiasm for digital asset infrastructure firms.
Circle Shares Surge on Market Debut
Circle’s shares debuted at $69.50, marking a surge of approximately 124% above the IPO price of $31. Shares were expected to begin trading in the range of $50 to $52.
Circle, best known as the issuer of USDC—a dollar-pegged stablecoin with a market cap exceeding $30 billion—priced its IPO above its expected range amid growing interest in regulated, transparent crypto platforms.
The Boston-based firm’s public listing is being widely interpreted as a vote of confidence in the role of stablecoins as foundational components in the evolving digital economy.
The firm had previously attempted to go public in 2022 via a SPAC merger with Concord Acquisition Corp., a deal that was eventually scrapped amid shifting market conditions. The successful IPO now offers the firm a fresh opportunity to scale its services and expand its international footprint.
Leader in Regulated Digital Finance
USDC, which Circle issues in partnership with Coinbase, is considered one of the most trusted stablecoins on the market, known for its regular attestations and compliance with regulatory standards.
“Our transformation into being a public company is a significant and powerful milestone—the world is ready to start upgrading and moving to the internet financial system,” Circle CEO Jeremy Allaire said.
“From inception, we have been deeply focused on being trusted, transparent, compliant, ethical, and well governed. Holding ourselves to the high standards of the NYSE and SEC rules and regulations further deepens those attributes,” he added.
Analysts believe that the funds raised will likely be used to further develop Circle’s infrastructure, strengthen global partnerships, and manage a complex regulatory sector more effectively.
Circle Sees Strong Fundamentals
Circle’s debut comes as investor appetite for crypto-adjacent stocks shows renewed strength, following a year in which the company generated $1.68 billion in revenue and reserve income.
While net income fell to $156 million from $268 million the year before, the firm’s fundamentals remain strong, bolstered by the growing use of USDC in digital payments and crypto trading.
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