Circle Upsizes IPO to $7.5B Valuation Amid BlackRock Interest

Circle Internet Financial, issuer of the USDC stablecoin, has significantly expanded its initial public offering amid surging institutional demand. The company now seeks to raise $896 million through 32 million shares priced between $27-$28, up from an earlier target of 24 million shares at $24-$26.

The revised filing positions Circle for a $7.5 billion diluted valuation, with Wall Street giants including JPMorgan and Goldman Sachs leading the underwriting syndicate. Market observers attribute the upsized offering to strategic interest from asset management heavyweight BlackRock.

This development signals growing institutional confidence in crypto-adjacent financial infrastructure, particularly following USDC’s emergence as a regulated dollar stablecoin alternative to Tether’s USDT. The IPO’s success could benchmark valuations for other blockchain-focused financial services firms.