Circle Internet Group’s shares skyrocketed by 168% after the company and its selling shareholders raised almost $1.1 billion in an initial public offering (IPO). The stock opened at $69 on the New York Stock Exchange, valuing the company at approximately $6.8 billion.
The company priced its IPO far above expected ranges, with shares trading as high as $103.75. Trading volume exceeded 46 million shares, more than the number of freely floating shares available for trading.
Circle joins other pure-play crypto companies like Coinbase and Riot Platforms in listing on the US market. The company’s CEO, Jeremy Allaire, attributed the success to their regulatory compliance and transparency. “We’ve been one of the most licensed, regulated, compliant, transparent companies in the entire history of this industry,” he said.
The stablecoin sector is experiencing increased interest, driven by expectations of Congress passing stablecoin legislation this summer. Analysts predict a 10-fold growth in the market over the next five years, creating a trillion-dollar opportunity.
Circle founded the USDC stablecoin in partnership with Coinbase and has seen significant success. The company’s stablecoins are used for fiat money on the internet, providing a standard for traditional financial transactions.
As interest in stablecoins grows, companies are exploring their use in remittances, business-to-business payments, and e-commerce. Stablecoins have become essential to tokenized financial markets, with some arguing they help preserve U.S. dollar dominance.
Source: https://www.cnbc.com/2025/06/05/stablecoin-issuer-circle-soars-in-nyse-debut-after-pricing-ipo-above-expected-range.html