Circle, Pursuing Listing On New York Stock Exchange… USDC Issuer's First IPO Challenge

Circle, which issues the US dollar-based stablecoin USDC, has begun procedures to list on the New York Stock Exchange. It is an attempt by a cryptocurrency company to enter the mainstream financial market, attracting the market's attention.

According to CoinDesk on the 26th, Circle recently applied for an Initial Public Offering (IPO) on the New York Stock Exchange (NYSE), and the stock ticker was set as CRCL. The offering price is expected to be set at a level of 24~26 dollars per share. A total of 24 million shares of class A common stock are expected to be listed, of which 9.6 million shares are newly issued by Circle, and the remaining 14.4 million shares will be released to the market through equity sales by existing investors.

Circle previously submitted an S-1 registration statement related to listing to the United States Securities and Exchange Commission (SEC) in April. If this IPO is approved, Circle is expected to become the first stablecoin company to officially enter the US stock market.

Circle's listing is even more noteworthy as it is in line with the cryptocurrency market's move to enter institutional territory. In particular, USDC is evaluated as a stablecoin that has gained institutional investor trust with transparent reserve management, so attention is expected to be focused on corporate value and market impact after the listing.