Circle Surges To $69 In NYSE Debut, Raising $1.1B As Investors Bet On Stablecoins Going Mainstream

by Murtuza J Merchant Benzinga Staff Writer

Zinger Key Points

Despite macroeconomic uncertainty, Circle’s offering shows confidence in digital dollar utilities expanding into traditional finance.
Regulatory clarity in the U.S. is accelerating stablecoin adoption, reinforcing the U.S. dollar’s dominance in global finance.
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Circle USDC/USD made a powerful entrance onto the New York Stock Exchange on Thursday, with shares of the stablecoin issuer CRCL opening at $69, more than double its $31 IPO price.

The company raised approximately $1.1 billion through the sale of 34 million shares, securing a valuation of $6.9 billion and marking a major milestone after a previously unsuccessful public listing attempt via SPAC in 2021.

The timing of Circle's debut comes amid broader market uncertainty.

As earnings season concludes, a majority of companies have offered cautious guidance, suggesting continued pressure on U.S. equities in the near term.

Despite that backdrop, Circle’s business model has positioned it to benefit from a growing demand for digital dollars.

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At the heart of the company's operations is USDC, a dollar-backed stablecoin increasingly used in digital payments, cross-border transfers, and corporate treasury management.

That demand has accelerated in 2025, partly fueled by improving regulatory clarity in the U.S. which is expected to strengthen the legitimacy and utility of stablecoins within traditional finance.

A recent report from Deutsche Bank supports this outlook, suggesting stablecoins are nearing mainstream adoption.

The bank highlighted their role in reinforcing the global dominance of the U.S. dollar and improving efficiency in international finance.

Circle's public listing is seen by some analysts as more than just a tech IPO, it reflects a broader market belief that stablecoins are evolving into foundational tools for the global financial system.

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