Circle, Global Second-Largest StablecoinIssuer, Files for IPO
3 April 2025 路 Uncategorized 路
Circle is the global second-largest issuer of stablecoins, responsible for issuing USDC. According to foreign media reports, Circle has officially initiated its initial public offering (IPO) process and may go public within a few weeks, attracting significant market attention.
CNBC and other foreign media reported that on April 1st, Circle formally submitted an IPO application with the U.S. Securities and Exchange Commission (SEC), planning to list under ticker 'CRCL.US' on the New York Stock Exchange, aiming for a valuation of up to $5 billion.
According to its IPO prospectus, Circle's operations have shown year-over-year growth trends; in 2024, revenue and income from assets amounted to $1.68 billion, higher than $1.45 billion in 2023 and $772 million in 2022.
However, Circle鈥檚 net profit for 2024 was $156 million, lower compared with the previous year's figure of $268 million but significantly improved from a loss of $769 million recorded in 2022.
This is Circle's second attempt at an IPO. Previously, it had tried to go public through SPAC (Special Purpose Acquisition Company) mechanisms; however, due to insufficiently thorough planning, its application was rejected by the SEC near the end of 2022, leading to a failed IPO bid.
Circle鈥檚 primary business involves issuing USDC stablecoins pegged to the U.S. dollar with a market capitalization around $60 billion and accounting for approximately 26% of total stablecoin market value鈥攕econd only to Tether (USDT) at about 67%.
CNBC and other foreign media reported that on April 1st, Circle formally submitted an IPO application with the U.S. Securities and Exchange Commission (SEC), planning to list under ticker 'CRCL.US' on the New York Stock Exchange, aiming for a valuation of up to $5 billion.
According to its IPO prospectus, Circle's operations have shown year-over-year growth trends; in 2024, revenue and income from assets amounted to $1.68 billion, higher than $1.45 billion in 2023 and $772 million in 2022.
However, Circle鈥檚 net profit for 2024 was $156 million, lower compared with the previous year's figure of $268 million but significantly improved from a loss of $769 million recorded in 2022.
This is Circle's second attempt at an IPO. Previously, it had tried to go public through SPAC (Special Purpose Acquisition Company) mechanisms; however, due to insufficiently thorough planning, its application was rejected by the SEC near the end of 2022, leading to a failed IPO bid.
Circle鈥檚 primary business involves issuing USDC stablecoins pegged to the U.S. dollar with a market capitalization around $60 billion and accounting for approximately 26% of total stablecoin market value鈥攕econd only to Tether (USDT) at about 67%.