Circle Internet Group IPO: Stock listing date draws near for the stablecoin issuer. Here’s the latest

Stablecoin issuer Circle Internet Group is expected to go public this week. Share pricing is expected to surface on Wednesday for a possible listing on Thursday, though the company has not confirmed the timeline.

The company’s paperwork with the Securities and Exchange Commission (SEC), filed Monday, shows that Circle plans to sell 32 million shares and is aiming at a price target of $27 to $28 per share.

That would give the company a valuation of more than $7 billion, an increase from earlier estimates. In a previous SEC filing, which surfaced last week, Circle said it was planning to sell 24 million shares priced between $24 and $26. In all, the company is expected to raise around $880 million with its updated numbers.

Shares are expected to trade on the New York Stock Exchange (NYSE) under the symbol CRCL. The offering is being led by J.P. Morgan, Citigroup, and Goldman Sachs & Co. LLC

Circle declined to comment.

Headquartered in New York, Circle has grown significantly over the last five years, reporting $1.7 billion in revenue and reserve income in 2024, compared to just $15.4 million in revenue in 2020. It had net income of $155.7 million in 2024, verses net income of $267.6 million in 2023, and a net loss of $768.8 million in 2022.

Why is Circle’s IPO a big deal?

As Fast Company previously reported, Circle’s IPO has been a long time coming, and has generated a lot of excitement among potential investors. That’s in large part due to the surge in interest around stablecoins—which are a form of cryptocurrency that have their values pegged to real assets.

For instance, Circle’s flagship USDC, one of the largest cryptocurrencies on the market, is pegged to the U.S. dollar, which means one USDC is worth $1. Circle also issues EURC, which is pegged to the value of the euro. 

Meanwhile, stablecoin legislation is currently working its way through Congress, which could be adding to the anticipation around Circle’s imminent market debut.

The Guiding and Establishing National Innovation for US Stablecoins Act, or GENIUS Act, could soon pass the Senate, and with a crypto-friendly administration in office, it could become law. That would set up a regulatory framework for stablecoins, effectively and further ingraining them into the financial system. 

With that as a background, and a surge in interest this year in the crypto space, many investors have had Circle’s IPO date circled on their calendars.