Stablecoin Giant Circle Raises $1.1B in IPO, Valued at $6.9B Ahead of NYSE Debut

In brief:

Circle and its shareholders sold 34 million shares, raising $1.1 billion in an upsized offering. The deal values the firm at $6.9 billion on an outstanding share basis, and $8.1 billion fully diluted. The listing comes as U.S. lawmakers advance stablecoin regulation.