Circle, the cryptocurrency company behind the USDC stablecoin, began trading on the New York Stock Exchange Thursday under the ticker CRCL, becoming one of the few pure-play crypto companies to go public in the United States.
The company’s shares opened at $69.50, more than double the initial public offering price of $31 per share. The stock reached a peak of $104 during the first trading session, representing a 235% surge that reflected strong investor confidence in the digital finance sector.
Founded in 2013 by Jeremy Allaire, Circle has positioned itself as a key player in the cryptocurrency infrastructure space. The company’s USDC stablecoin, a digital currency pegged to the U.S. dollar, has been a primary driver of its valuation and market appeal.
The successful public debut comes as the cryptocurrency industry awaits potential regulatory clarity through pending stablecoin legislation. Industry observers suggest such regulatory frameworks could benefit established players like Circle.
Circle has described its mission as building the “money layer of the internet,” emphasizing transparency and legitimacy in digital finance. The IPO involved major investment banks and attracted attention from crypto-focused institutional investors, including Cathie Wood’s ARK Invest.
The public listing represents a significant milestone for the cryptocurrency sector, potentially influencing broader adoption of digital currencies in traditional finance markets.
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