USDC Issuer Circle Halted on NYSE Debut as CRCL Triples IPO Price
Summary
Circle Internet Group, issuer of USDC, began trading on the New York Stock Exchange, with its share price tripling from its $31 IPO before trading was halted. The company previously attempted to go public in 2021, later raising $1.1 billion. The IPO was oversubscribed, signaling strong market interest. USDC, Circle's stablecoin, has a market cap of $61 billion, reflecting its circulation. Circle's public listing highlights the growing institutional belief in stablecoins' role in modern finance. Digital dollars offer faster settlement and programmability, appealing to traditional financial firms. Market-driven solutions like Circle are gaining traction over central bank digital currencies.
