Overview

• Circle Internet Group raised about $1.1 billion by selling 34 million Class A shares at $31 apiece in its NYSE debut.
• Shares surged 168% to close at $83.23 on June 5 and then climbed to an intraday high of $123.51 on June 6, valuing the company above $21.7 billion.
• Analysts point to clearer U.S. regulations and rising demand for USDC in digital payments and corporate treasury operations as key drivers.
• Major banks including JPMorgan Chase, Morgan Stanley, Wells Fargo, Citigroup as well as PNC are exploring stablecoin issuance or crypto service offerings.
• The GENIUS Act recently advanced in the Senate and could establish formal guidelines for stablecoin issuers, accelerating mainstream adoption.