Circle, the issuer of the second-largest USD-backed stablecoin USDC, made a triumphant debut on the New York Stock Exchange (NYSE) this week. Its shares surged 168% on the first trading day, climbing from an initial price of $31** to **$69 per share—far exceeding analyst projections. The IPO raised $1.1 billion, cementing Circle’s position as a leader among stablecoin issuers and outpacing Coinbase’s 2021 public offering.
👉 Discover how Circle’s IPO reshapes crypto finance
Key Highlights of Circle’s NYSE Debut
- Stock performance: CRCL (Circle’s ticker) opened at $31 and peaked at $69.
- Funds raised: $1.1 billion, doubling Coinbase’s 2021 IPO.
- Strategic move: Circle declined Ripple’s $5 billion acquisition offer before going public.
USDC: Circle’s Flagship Stablecoin
Launched in 2018 with Coinbase, USDC is a fully reserved, regulated stablecoin pegged to the USD. It ranks as the second-largest stablecoin by market cap, trailing only Tether’s USDT. Unlike USDT, USDC adheres to transparency standards, including:
- Monthly reserve attestations.
- Compliance with EU regulations.
- Broad adoption in DeFi and institutional finance.
Why Circle Rejected Ripple’s $5 Billion Offer
In April 2025, Ripple proposed acquiring Circle for $4–$5 billion, aiming to leverage USDC to compete with USDT and expand its RLUSD stablecoin. Circle declined, believing its public market valuation would surpass Ripple’s offer.
Key reasons for rejection:
- Growth potential: USDC’s market cap surged from $34B to $61B in months.
- IPO advantage: Public listing offered greater liquidity and investor trust.
- Regulatory edge: USDC’s compliance appealed to financial institutions.
👉 Learn how stablecoins like USDC drive crypto liquidity
Ripple’s Delayed IPO Plans
While Circle went public, Ripple shelved its 2025 IPO plans. President Monica Long cited a focus on:
- Stablecoin strategy (RLUSD development).
- Core payment solutions.
- SEC lawsuit resolution (despite winning, no IPO timeline exists).
FAQ Section
Q: Why did Circle’s stock spike 168%?
A: Investor confidence in USDC’s regulatory compliance and Circle’s market position drove demand.
Q: How does USDC differ from USDT?
A: USDC provides monthly audits and EU compliance, while USDT faces regulatory scrutiny.
Q: Will Ripple acquire Circle later?
A: Unlikely. Circle’s public valuation may now exceed Ripple’s capacity.
Future Outlook for Circle
The IPO fuels opportunities for:
- Expanding USDC’s institutional use.
- Developing new blockchain-based financial tools.
- Strengthening partnerships with regulators and trad-fi players.
Circle’s success underscores stablecoins’ pivotal role in merging traditional finance with crypto innovation.
🚀 Pro Tip: For deeper insights into crypto IPOs, check our exclusive analysis.
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