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The company reported net income of $156m on revenue of $1.68b in 2024. The company, led by Jeremy Allaire, has steadily increasing revenue and is the biggest competitor to Tether, with $60b of its dollar-backed USDC stablecoin in circulation as of March 28.
“Going public now is representative of the fact that we are at a significant crossroads for Circle and the development of the internet financial system,” Allaire, who is chairman and chief executive officer, said in a letter to investors that was included in the prospectus. “While we are proud and confident about our ability to pursue this opportunity, our future (like our past) is rife with uncertainties and risks that we must navigate successfully.”
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