The issuer of the USDC stablecoin, Circle, is accelerating its IPO plans and significantly raising its ambitions. Faced with growing institutional demand, the company now expects a fully diluted valuation of up to $7.2 billion.
An Operation Boosted by Investor Appetite
Initially, Circle planned to offer 24 million shares at a price between $24 and $26. However, in a new filing with the SEC, the company announces an increase in the volume to 32 million shares, with a price range revised upwards to between $27 and $28. This increase reflects a greater enthusiasm than expected for this highly anticipated operation in the crypto sector.
Major players in the global finance seem poised to participate. According to several sources close to the matter, BlackRock is considering purchasing up to 10% of the shares offered. Ark Invest, led by Cathie Wood, has also expressed an intention to invest $150 million.
An Ideal Window for Stablecoins
This resurgence of crypto IPOs comes in a favorable context for stablecoins. Long confined to digital asset exchanges, these instruments are now at the heart of international fund transfers, DeFi platforms, and even traditional financial rails.
The total stablecoin market currently stands at $250 billion. Tether (USDT) dominates with a market cap of $154 billion (62% of the market), while Circle’s USDC remains in second place at $62 billion, according to data from DeFiLlama.
A Highly Strategic IPO
For Circle, this IPO is not just about fundraising. It marks a clear attempt to solidify its position in a market undergoing significant reorganization. The interest shown by giants like BlackRock or Ark Invest validates the idea of an increasing role for stablecoins in the global digital economy.
As regulatory and geopolitical tensions persist, USDC, known for being more transparent than its rival USDT, could attract a new wave of institutional users. Circle is playing a crucial card: to legitimize its model and establish itself as a key player in the Web3 financial infrastructure.
