Circle Hikes IPO to $896M as BlackRock Demand Soars, Valuation Could Top $6B

Key Takeaways: Circle and its shareholders increased the IPO offering to 32 million shares, targeting up to $896 million from the previous $624 million goal. Revised share pricing suggests strong investor demand, with BlackRock and Ark Invest among expected buyers. Circle has secured in-principle regulatory approval in Abu Dhabi and partnered with Hub71 to support product testing. Circle Internet Group and its shareholders have raised the size and price range of the company’s planned public offering, according to a June 2 filing with the U.S. Securities and Exchange Commission (SEC). The company and its backers are now offering 32 million shares, up from a previously planned 24 million, at a revised range of $27 to $28 per share. If priced at the top end, the deal could raise as much as $896 million and value the company at more than $6 billion. Circle Rejects Buyout, Focuses on Public Listing Bloomberg reported that the offering had already attracted orders exceeding available shares, suggesting institutional demand for the stablecoin issuer is high. Circle did not comment on the revised pricing. Circle is the issuer of USDC, a dollar-pegged stablecoin with a current market capitalization of over $60 billion, making it one of the most widely used assets in the sector. The IPO comes amid renewed activity in U.S. capital markets, following a pause earlier this year due to tariff-driven volatility. Previously, Circle decided to reject a reported acquisition offer from Ripple in the $4–5 billion range. The company instead opted to proceed with a public listing, which it confidentially filed for earlier this year. A Circle spokesperson said the firm remains focused on its independent corporate strategy and declined to comment further during the regulatory quiet period. The listing has also attracted interest from major financial institutions. BlackRock is expected to acquire around 10% of the shares on offer, while Ark Invest has indicated plans to purchase up to $150 million worth. BlackRock already manages a fund that holds the majority of USDC’s cash reserves, linking its portfolio directly to the stablecoin’s performance. Regulatory Progress Extends to Abu Dhabi and Asia The new share sale follows a string of international regulatory developments. Circle has expanded its presence in the Middle East and Asia, receiving in-principle approval to operate as a money services business in Abu Dhabi, with plans to test stablecoin services under local supervision. From 5 business days to near instant. Circle Payments Network turns one of the slowest B2B trade corridors into one of the fastest. Latin America to Hong Kong supplier payments now settle in real time using USDC. No delays. No hidden costs. https://t.co/WTq5puwAt0 pic.twitter.com/EaNl1Fp6Lh — Circle (@circle) May 29, 2025 It also entered a partnership with Hub71, a government-backed tech ecosystem, to support product development in the region. Its public listing is expected to draw close attention from both crypto and traditional finance sectors, as investors evaluate the business model and earnings potential of blockchain-based payment firms entering public markets. Frequently Asked Questions (FAQ) How does Circle make money outside of USDC issuance? In addition to earning interest on reserves backing USDC, Circle generates revenue from treasury services, transaction fees, and institutional crypto infrastructure such as APIs and programmable wallets. How would public listing impact USDC’s regulatory posture? Becoming a public company increases disclosure obligations and financial scrutiny, which may help Circle gain broader regulatory acceptance, particularly as U.S. lawmakers consider stablecoin-specific legislation. What role does Circle play in the U.S. and global payments infrastructure? Circle supports integration with card networks, banking APIs, and cross-border payment platforms. It positions USDC as a bridge between fiat and blockchain systems for settlement, remittances, and B2B use cases. The post Circle Hikes IPO to $896M as BlackRock Demand Soars, Valuation Could Top $6B appeared first on Cryptonews .

Source: cryptonews