Stablecoin giant Circle reveals revenue growth in US IPO filing

Reuters

Wed, Apr 2, 2025, 3:59 AM 1 min read

(Reuters) - Circle Internet Group, the institution down the USDC stablecoin, filed for an archetypal nationalist offering connected Tuesday aft markets closed, arsenic it prepares to database its shares connected the New York Stock Exchange.

The IPO marketplace is presently successful a delicate place, arsenic investors look to equilibrium request for caller listings against risks posed by economical uncertainty, specified arsenic tariffs.

Circle reported it earned $1.68 cardinal successful gross and reserve income past year, compared with $1.45 cardinal a twelvemonth earlier. Net income from continuing operations was astir $157 cardinal successful 2024 versus $271.5 cardinal successful the erstwhile year.

The IPO would beryllium Circle's 2nd effort astatine going public, coming much than 2 years aft it terminated a $9 cardinal merger with a peculiar intent acquisition company.

USDC is the second-biggest stablecoin, aft Tether, and the seventh-biggest crypto token overall, according to marketplace tracker CoinGecko. The tokens are backed by currency and currency equivalents, including short-term Treasury bonds.

J.P. Morgan and Citigroup are the pb underwriters for the IPO. The institution is expected to commercialized nether the ticker "CRCL".

(Reporting by Niket Nishant successful Bengaluru; Editing by Krishna Chandra Eluri)