Stablecoin leader Circle (USDC) is preparing for its Initial Public Offering (IPO). On April 1, 2025, the company filed an S-1 registration statement with the US Securities and Exchange Commission (SEC), setting the stage for its debut on the New York Stock Exchange under the ticker symbol CRCL.
Circle’s IPO features a three-tier share structure to balance public investor interests with founder control. Public investors will receive Class A shares, each with one vote per share.
Co-founders Jeremy Allaire and Sean Neville will hold Class B shares, granting five votes per share but capped at 30% of total voting power. Additionally, non-voting Class C shares, convertible under specific conditions, have been issued.
JPMorgan Chase and Citigroup are the underwriters, with a 30-day option to purchase additional shares to cover over-allotments.
