Leading Stablecoin Firm Circle Exceeds IPO Application by 25 Times

Circle Internet Group, the U.S. issuer of the stablecoin 'USDC', has completed its fundraising of approximately $1.1 billion through an initial public offering (IPO), as reported by Bloomberg. The company and existing shareholders sold 34 million shares at $31 per share, significantly exceeding the initial plan to raise $896 million. The IPO attracted subscriptions more than 25 times the initial forecast, with the price set above the expected range of $27 to $28. Following the fundraising, the company's market capitalization is projected to reach $6.9 billion, with a fully diluted valuation of $8.1 billion, and it is expected to list on the New York Stock Exchange (NYSE) under the ticker 'CRCL'.