USDC Stable Coin Issuer Circle Files for US IPO Amid Rocky Markets

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Circle, the company behind the USDC stablecoin, has filed for a U.S. initial public offering. The company plans to list on the New York Stock Exchange and is applying for ticker symbol CRCL.

Circle, the company behind the USDC stablecoin, has filed for a U.S. initial public offering. The company plans to list on the New York Stock Exchange and is applying for ticker symbol CRCL.

The latest tech firm to file for an IPO amid tariff uncertainty and worries about the economy’s health hopes to test the market. IPOs have had a mixed performance recently. Nvidia-backed cloud computing company CoreWeave (CRWV) had a disappointing debut in the biggest U.S. tech IPO since 2023.

A stablecoin is a cryptocurrency whose value is pegged, or tied, to that of another currency, commodity, or financial instrument and so tends to be less volatile than other digital assets. USDC, which was launched in 2018, is backed by U.S. dollar assets.

A stablecoin is a cryptocurrency whose value is pegged, or tied, to that of another currency, commodity, or financial instrument and so tends to be less volatile than other digital assets. USDC, which was launched in 2018, is backed by U.S. dollar assets.

Circle, which had previously announced plans to go public in 2021 via a SPAC merger, said in its prospectus filed with the Securities and Exchange Commission on Tuesday that its net income last year was $155.7 million, down from $267.5 million a year earlier. It had $1.68 billion in revenue and reserve income in 2024, versus $1.45 billion in 2023.

Circle, which had previously announced plans to go public in 2021 via a SPAC merger, said in its prospectus filed with the Securities and Exchange Commission on Tuesday that its net income last year was $155.7 million, down from $267.5 million a year earlier. It had $1.68 billion in revenue and reserve income in 2024, versus $1.45 billion in 2023.

Its net income in 2024 was $155.7 million, compared to $267.5 million in 2023. Its revenue and reserve income last year was $1.68 billion, down from $1.45 billion in 2023.

The company’s losses in 2024 were largely driven by a $994.4 million impairment charge recognized in 2024 on its venture investment in a third party, which was made in 2022.

Its shares will trade on the New York Stock Exchange.

The company, founded in 2013, is used by major crypto firms such as Coinbase to process dollar transactions.

Bankers at Goldman Sachs, Morgan Stanley and Citigroup Inc are handling the offering.