USDC Owner Coinbase and BlackRock Partner Circle Go Public Offering

The power behind USDC known as Circle Internet Financialshas made its formal application to go public by 2025. This step is considered an important milestone in the institutionalization journey not only of the company, but also of the crypto ecosystem.

of Circle's shares, New York Stock Exchange (NYSE) over Code “CRCL” It is planned to be traded with. Although the net date of the IPO, the number of shares and the price range have not yet been shared with the public, the current financial data of the company and its position in the sector are of great interest to investors.

🏛 Company Profile: What Is Circle, What Does It Do?

• Year of Establishment: 2013
• Center: Boston, Massachusetts, United States
• Founders: Jeremy Allaire & Sean Neville
• Main Field of Activity: Stablecoin (especially USDC) issuance, crypto payment infrastructure, financial API solutions
• Flagship Product: USD Coin (USDC) — Stable cryptocurrency backed by dollar
• Amount of USDC in circulation: ~$60 billion
• Main Business Partners: Coinbase, BlackRock, BNY Mellon, Visa, Mastercard

Circle aims to integrate crypto assets into the traditional financial system by developing a digital payments infrastructure integrated with blockchain technology. The company strives for the spread of USDC in a manner consistent with regulations around the world.

📈 Financial Figures: Is the Pre-IPO Balance Sheet Solid?

• 2024 Revenue: 1.67 billion dollars
• 2024 Net Profit: $155.6 million (41.8% year-on-year decrease)
• Source of Income: USDC reserves backed by 99+ interest income government bonds
• Reserve Management: U.S. Treasury bonds + cash assets (audited by BNY Mellon and BlackRock)
• Biggest Expenses in 2024: Payment of $908 million to Coinbase (in exchange for the distribution of USDC)

Although Circle has a hard time reducing its operational expenses, its revenue-generating capacity is largely dependent on USDC's global volume. Therefore, the IPO is seen as a strategic move for both the purchase of new investments and debt-free growth.

🧠 What Happened Before?

Circle has made plans for an IPO in 2021 through a SPAC merger, but this process Cancelled in late 2022In 2024, this time a secret application was made directly to the SEC, and the IPO process was restarted in April 2025.

The move comes despite the company's strict regulatory environment based in the US Transparency and institutionalization stability reveals.

🌐 Competitive Landscape: What awaits Circle?

• Tether (USDT): First-ranked competitor with a market value of ~$111 billion
• PayPal USD (PYUSD): One of the traditional fintech giants in the field
• Ripple (stablecoin plans on XRP Ledger)
• Central Banks of Europe and Asia: The competition between the Digital Euro and the Digital Yuan is at the door
• Risk of Regulation: Regulations by the SEC and global financial regulators could directly impact the future of USDC

Circle's IPO is read as a defensive move not only to raise capital, but also to maintain its claim to market leadership in the face of increased competition.

📢 What Investors Say

“Circle's IPO is an indication that the crypto sector, which has been plagued by regulation for a long time, is trying to reposition itself. But the income model is almost entirely dependent on interest income. This presents both opportunity and risk.”

“USDC's ubiquity is an advantage, but as traditional giants like PayPal enter the market, Circle needs to diversify its strategic partnerships.”

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