Circle raises IPO size: valuation up to $7.2 billion, BlackRock and Ark take the lead

The US stablecoin giant Circle recently announced an increase in its initial public offering (IPO) scale and price range, with the latest documents showing a potential valuation of up to $7.2 billion. Facing a heated market response, institutional funds like BlackRock and Ark Invest have rushed in, injecting strong momentum into this IPO. This stablecoin war seems to have officially entered the capital market decisive stage.

Investment Fever Arrives: Circle IPO Scale and Valuation Fully Adjusted

According to the updated prospectus submitted to the US Securities and Exchange Commission (SEC) yesterday, Circle has increased its IPO scale from the original 24 million shares to 32 million shares, with the price range also raised from $24-26 per share to $27-28 per share. Calculated at the highest price, Circle's fully diluted valuation will reach $7.2 billion, with external observers believing this adjustment is due to surging investor interest and demand.

Informed sources revealed that asset management giant BlackRock intends to subscribe to up to 10% of the IPO shares, while Ark Invest led by Cathie Wood has also stated it will invest $150 million. This demonstrates that stablecoins are transforming from crypto trading tools to new-generation financial infrastructure, rapidly attracting mainstream capital.

(Wall Street Giants Entering the Stablecoin Track? Bloomberg Exclusively Reveals: BlackRock Plans to Acquire 10% of Circle IPO Shares)

USDC Continues to Grow: Compliance Becomes the Biggest Selling Point

According to defillama data, as of early June, the global stablecoin total market value reached $248 billion, with Tether (USDT) dominating 62%, approximately $154 billion, while Circle's USDC ranks second with $60 billion. Although still lagging behind Tether in market share, USDC has unique advantages in compliance, transparency, and depth of cooperation with financial institutions.

Although still trailing Tether in market share, USDC's compliance, transparency, and cooperation with financial institutions provide unique advantages, being viewed as a more regulated digital dollar with closer integration to traditional finance.

Ripple and Coinbase Have Both Made Moves: Acquisition or IPO?

In May, Circle revealed receiving acquisition proposals from Ripple and Coinbase, with offers as high as $5 billion, but ultimately chose to reject them, demonstrating strong confidence in its self-valuation and long-term strategy.

(IPO Dark Horse or Acquisition Target? Circle Reportedly Seeking $5 Billion Sale, with Coinbase and Ripple Interested)

However, market opinions on potential acquisition are mixed. Previous reports suggested that USDC's high binding with Ethereum's DeFi ecosystem could pose a threat to this decentralized infrastructure. If other centralized enterprises further control USDC's issuance policies, it might cause MakerDAO or Aave and other major protocols to lose stable asset support, triggering liquidity and trust crises.

Although Circle has now promoted cross-chain expansion (such as Base or Solana), whether it can break free from its high dependence on Ethereum remains one of its core challenges in going global.

(Why Ripple's Acquisition of Circle Might Become the 'Doomsday for Ethereum and DeFi'?)

From Stablecoins to Wall Street: How Circle Defines the Next Financial Era

Circle is using stablecoins as a weapon to comprehensively enter capital markets and global financial infrastructure. As stablecoins move towards mainstream and regulations gradually become clear, Circle's IPO is not just a company-level fundraising action, but potentially a milestone defining the future position of stablecoins.

If this IPO succeeds, it will not only inject ammunition for USDC's expansion but might also rewrite the mode of coexistence between crypto assets and traditional finance.

Gold has remained at high levels since reaching a historical high of over $3,500 per ounce in April. It has risen 28% year-to-date, making it one of the best-performing assets this year. The stablecoin protocol USDT0 will launch XAUT0 on TON, a token based on Tether Gold stablecoin XAUT, allowing crypto investors to easily invest in gold. Investment amounts can be smaller, and with no custody fees, it provides another channel for gold investment.

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