Core Viewpoint - Circle has successfully increased its IPO scale to 34 million shares at a price of $31, raising approximately $1.1 billion, driven by strong market demand for stablecoin assets [2][3] Company Overview - Circle, founded in 2013, specializes in fiat currency transfer services and is known for its product CirclePay, often referred to as "the American Alipay" [2] - The company is also the issuer of the USDC stablecoin, which is the second-largest stablecoin globally, with a circulation of approximately $60 billion, accounting for about 26% of the total stablecoin market [2] Financial Performance - Circle's revenue has shown strong growth, with projected revenues of $772 million in 2022, $1.45 billion in 2023, and $1.676 billion in 2024, indicating a consistent upward trend [3] - The company's net profit is expected to decline from $268 million in 2023 to $156 million in 2024, despite maintaining a high level of profitability overall [3] - Major shareholders include prominent international investment firms such as Accel, Breyer Capital, General Catalyst, IDG Capital, Oak Investment Partners, and entities related to FMR [3] Regulatory Environment - Recent regulatory developments have created a favorable environment for Circle's IPO, including the passage of the GENIUS Act, which aims to establish a clear federal regulatory framework for stablecoins [5] - This regulatory clarity is expected to enhance the market's reassessment of Circle's business model and compliance sustainability [5] - Additionally, Hong Kong has introduced its own stablecoin regulatory framework, further solidifying the global regulatory landscape for stablecoins [5] Market Position - Following its IPO, Circle will become one of the most prominent publicly traded cryptocurrency companies, with all its operations centered around crypto stablecoins [6] - The company is positioned to benefit from the dual boost of the stock market and the cryptocurrency sector, as evidenced by the recent performance of related companies like Robinhood [6]
稳定币第一股上市！
Zheng Quan Shi Bao·2025-06-05 16:02