Stablecoin issuer Circle (CRCL.US) applies to list in the United States or raise $750 million.

Stablecoin issuer Circle Internet Group submitted its initial public offering (IPO) application to the U.S. Securities and Exchange Commission (SEC) on Tuesday. The market currently expects the company to raise up to $750 million. The company plans to list on the New York Stock Exchange under the ticker symbol "CRCL", but has not disclosed pricing terms. Founded in 2013, Circle has become the biggest competitor to Tether, the world's largest stablecoin issuer. Over the years, Circle has differentiated itself from Tether by emphasizing that it is more regulated and provides greater reserve transparency. Stablecoins are cryptocurrencies pegged to another asset (usually the U.S. dollar). According to the IPO application, as of March 28th, the circulating supply of USDC stablecoin issued by Circle is $60 billion. In addition, the company reported revenues of $1.7 billion for the 12 months ending on December 31, 2024.