Circle Prices IPO at $31 per Share, Reaching a Valuation of $6.9 Billion

BlockBeats News, June 5th, according to CoinDesk, stablecoin issuer Circle completed its IPO on the New York Stock Exchange at $31 per share, surpassing the original price range expectations of $24-$26, raising $1.1 billion and achieving a valuation of $6.2 billion. The stock is traded under the symbol "CRCL" and will commence trading on Thursday. The IPO was initially planned to issue 24 million shares but was increased to over 34 million shares due to high demand. Circle's USDC, the second-largest stablecoin in the U.S., made its debut as U.S. lawmakers are pushing forward stablecoin regulatory bills.