Circle IPOs: First Stablecoin Company Goes Public on NYSE

On June 5th, 2025, Circle Internet Group (CRCL), the issuer of USDC stablecoin, became the first publicly traded stablecoin company after a successful $1.1 billion initial public offering (IPO) that valued the company at $6.9 billion. The IPO was led by JPMorgan Chase, Citigroup and Goldman Sachs. Institutional investors subscribed for shares 25 times more than the offered amount, creating a new record in crypto company IPO history.