Circle Officially Files for IPO to Go Public on NYSE
Circle has taken a significant step toward going public by filing for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC).
This move follows the company’s recent confidential submission of a draft registration statement, a typical procedure for firms preparing to go public. However, the filing does not specify the number of shares or the target price for the IPO.
Circle CEO Jeremy Allaire expressed that transitioning to a publicly traded company on the New York Stock Exchange aligns with the company’s commitment to increased transparency and accountability. This filing comes just as lawmakers are gearing up to address stablecoin regulation, with the House Financial Services Committee set to vote on a related bill, following a Senate committee’s approval of a similar proposal earlier this year.
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Circle has previously explored the idea of an IPO, as reported by Bloomberg last year, when the company was valued at $9 billion during a failed blank-check merger. The timing of this move coincides with a growing favorable stance from the U.S. government towards digital asset development. Notably, other major crypto players are also eyeing the public market, with Kraken reportedly considering a $1 billion debt raise ahead of a potential IPO.
USDC, which has been integral to Circle’s ecosystem since its launch in 2018, has facilitated over $25 trillion in on-chain transactions as of March 2025. The stablecoin has become a widely adopted digital dollar, used for payments, settlements, and storing value.
Financially, Circle has seen fluctuations, moving from a substantial net loss of $768.8 million in 2022 to a profit of $267.6 million in 2023, but dropping again to $155.7 million by the end of last year. As of December 31, 2024, the company reported total liquidity of $1.05 billion, comprising $751 million in cash and $294 million designated for corporate-held stablecoins.
Leading investment banks, including JPMorgan and Citigroup, are listed as underwriters for the IPO, underscoring the significance of Circle’s upcoming public listing.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
