Circle Internet Group, issuer of the USDC stablecoin, has filed with the SEC an application to list on the New York Stock Exchange.
According to the Form S-1 filed with the SEC on April 1, the Class A common stock will trade under the ticker "CRCL."
The prospectus does not specify the number of shares to be offered or the target price for the initial public offering. The filing discloses that Circle's revenue for 2024 will be $1.67 billion, up 16% year-over-year.
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However, net income fell to $155.6 million, down 41.8% from 2023, following a net loss of $761.7 million in 2022.
In addition, the filing indicates that Circle paid nearly $908 million in 2024 to its main distribution partner, Coinbase, to circulate USDC on its exchange.