Stablecoin issuer Circle saw its shares skyrocket on its debut at the New York Stock Exchange, marking a dramatic entrance into the public markets. Initially priced at $31, Circle’s shares surged to nearly $100 before stabilizing around $80 by mid-afternoon on Thursday — a gain of approximately 160%.
The company raised $1.1 billion through the sale of 34 million shares, achieving a valuation of $6.9 billion. As the issuer of USDC, the world’s second-largest stablecoin, Circle’s strong performance reflects growing investor confidence in crypto-aligned fintechs, particularly under the more accommodating regulatory climate fostered by President Trump’s administration.
Circle’s IPO success is especially notable given its turbulent history. The company previously struggled with regulatory hurdles that derailed an earlier attempt to go public via a SPAC merger in 2022. It also weathered crises like the SVB collapse and the downfall of Silvergate Bank, both of which threatened its operations.
Backing Circle’s bullish momentum, a recent Citi report forecasts that the total supply of stablecoins could soar from $230 billion to as high as $3.7 trillion by 2030 — underscoring the market’s long-term potential.