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Crypto stablecoin issuer Circle Internet Group has filed with the US Securities and Exchange Commission to go public on the New York Stock Exchange.
The USDC (USDC) issuer is planning to list its Class A common stock under the symbol “CRCL,” according to its April 1 Form S-1 registration statement with the SEC.
Circle’s prospectus does not detail the number of shares to be offered or what its initial public offering target price will be.
The filing also showed that Circle brought in $1.67 billion in revenue for 2024, a 16% year-on-year increase.
Its net income last year was $155.6 million — a 41.8% fall from 2023, while 2022 saw a net loss of $761.7 million.
Over 99% of Circle’s revenue last year came from its stablecoin reserves, the filing showed. The company generates income by holding yield-bearing treasury bills.
Circle has previously attempted to go public via a Special Purpose Acquisition Company (SPAC) merger in 2021— which it abandoned in December 2022 — and again in January 2024 via a confidential filing with the SEC.
Related: Circle, Intercontinental Exchange to explore stablecoin integration
Crypto exchange Kraken and blockchain security firm BitGo are among the other industry players also reportedly seeking a public listing either this year or early 2026.
Circle became the first stablecoin issuer to receive regulatory approval in Japan on March 25 — launching USDC on the SBI VC Trade crypto exchange the following day.
USDC is the second-largest stablecoin by market cap at $60.1 billion, trailing only Tether (USDT) at $143.9 billion, CoinGecko data shows.
Magazine: Unstablecoins: Depegging, bank runs and other risks loom
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