USDC issuer Circle lists on the New York Stock Exchange, raising approximately ₩1.44 trillion through IPO

US stablecoin issuer Circle Internet Financial has officially listed on the New York Stock Exchange (NYSE). This listing is considered a symbolic event that marks the entry of virtual asset (cryptocurrency) companies into the institutional mainstream.

According to the crypto-focused media Cryptonomist on the 5th, on the 4th (local time), Circle raised a total of $1.05 billion (approximately ₩1.4489 trillion) by selling 34 million shares at $31 per share via its initial public offering (IPO). This result exceeds the previously announced expected range of $27~$28 per share. After listing, Circle’s corporate value is estimated at about $8 billion.

With this listing, Circle plans to strengthen its business foundation, including its stablecoin USD Coin (USDC), and further expand its ties with the traditional financial market. The market sees this as the most notable IPO of a virtual asset company since the Coinbase listing in 2021.

Major investment banks such as JPMorgan, Citigroup, and Goldman Sachs acted as lead underwriters for this IPO. Analysts also note that institutional investors are expressing a preference for stablecoins and related infrastructure firms over highly volatile cryptocurrencies.

Currently, Circle has issued over $61 billion worth of USDC in market capitalization. Among dollar-based stablecoins, it is the second largest globally, after Tether (USDT). Circle also operates the euro-based stablecoin EURC.

The media outlet commented, "Circle’s successful listing demonstrates that if a cryptocurrency company has a stable model and asset structure, it can attract capital from traditional markets."