Circle Targets $7.2B Valuation in Upsized IPO as Stablecoin Demand Surges

Circle Internet Financial, the issuer of USDC stablecoin, has increased its IPO ambitions with a revised filing showing a fully diluted valuation target of $7.2 billion. The company now plans to offer 32 million shares at $27-$28 each, up from its initial May proposal of 24 million shares at $24-$26. This upward adjustment signals accelerating institutional interest in crypto infrastructure plays.

BlackRock’s potential acquisition of 10% of IPO shares and Ark Invest’s $150 million commitment underscore growing mainstream acceptance. The stablecoin sector, once confined to crypto trading, now commands a $248 billion market cap with expanding use cases across DeFi, remittances, and traditional finance.

USDC maintains its position as the second-largest stablecoin with $60 billion in circulation, though still trailing Tether’s dominant $154 billion USDT. This IPO arrives as regulatory clarity and institutional participation reshape digital asset markets.