Circle, the creator of the USDC stablecoin, is expanding its initial public offering in response to heightened investor interest. According to a recent SEC filing, the company plans to offer up to 32 million shares priced between $27 and $28 each, up from its original plan of 24 million shares at $24 to $26. This adjustment pushes Circle’s fully diluted valuation target to approximately $7.2 billion.
The increased share count and price range reflect growing confidence from institutional investors. Notably, BlackRock, the world’s largest asset manager, is reportedly considering acquiring up to 10% of Circle’s IPO. Cathie Wood’s Ark Invest has also expressed plans to invest $150 million in the offering.
Circle’s IPO is timely, coinciding with the rising prominence of stablecoins in the crypto ecosystem. Stablecoins are no longer just trading tools but have become essential components in decentralized finance (DeFi), international remittances, and traditional finance.
The stablecoin market capitalization currently stands near $248 billion, with Tether’s USDT holding a dominant 62% share valued at $154 billion, followed by Circle’s USDC at $60 billion, according to data from DeFiLlama.
