Stablecoin Circle Raises 1.1B in IPO

Circle Raises $1.1 Billion in IPO, Valued at $6.9 Billion

• Circle and its shareholders sold 34 million shares, raising $1.1 billion.
• The initial public offering was priced at $31 per share.
• The firm is valued at $6.9 billion based on outstanding shares and $8.1 billion fully diluted.
• USDC, Circle’s flagship product, holds a 24.5% market share with $61.5 billion in circulation.
• BlackRock is expected to acquire 10% of the IPO shares.

Circle’s IPO raised approximately $1.1 billion through the sale of 34 million shares, valuing the company at $6.9 billion based on outstanding shares and reaching a fully diluted valuation of $8.1 billion.