Circle Shares Surge 174% in NYSE Debut, Valuing Stablecoin Operator at $19 Billion

Circle Internet Financial Inc. made a thunderous entry into public markets as shares of the USDC stablecoin operator more than doubled on their first day of trading. The stock opened at $69, far exceeding its $31 IPO price, and briefly touched $103.75 before settling around $85—a 174% gain that catapulted the company's valuation to nearly $19 billion.

The offering, led by J.P. Morgan, Citigroup, and Goldman Sachs, raised over $1 billion after being upsized twice to meet overwhelming institutional demand. Major asset managers including BlackRock and ARK Investment Management participated, signaling strong confidence in crypto's payment infrastructure ambitions.

Circle's market debut represents a watershed moment for stablecoin adoption, demonstrating how traditional finance is embracing blockchain-based dollar alternatives. The explosive performance defied expectations and minted new crypto billionaires, with co-founder Jeremy Allaire among the primary beneficiaries.