Circle IPO: How to Buy Circle Stock in 2024?

14.12.2023

At the moment, there’s no way to buy Circle stock as the stablecoin company is not publicly traded. However, recent reports by Bloomberg indicate that Circle’s initial public offering (IPO) could be happening as soon as early 2024.

Circle is a digital currency company best known for its USD Coin stablecoin, which commands the 7th largest market capitalization of any cryptocurrency ($23.1 billion as of December 2023). Circle first announced its plans to go public in 2021 by merging with a special-purpose acquisition company called Concord Acquisition Corp, but the deal was later terminated in December 2022.

Key takeaways:

While Circle is not yet publicly traded, reports suggest a potential IPO in early 2024. Valuations from previous funding rounds hint at a potential $7-9 billion valuation for the IPO.
Circle is a digital currency company offering a suite of products and services catering to both individual and institutional users in the cryptocurrency space.
Notable for its USD Coin stablecoin, Circle’s USDC is pegged to the value of the US dollar, offering price stability in the crypto space. Alongside USDC, Circle also has Euro Coin (EURC), a euro-backed stablecoin.
Circle extends its services to institutional clients through Circle Invest, providing tailored investment opportunities and trading capabilities.

About Circle

Circle was founded in 2013 by Internet entrepreneur Jeremy Allaire. The company received $135 million in venture capital between 2013 and 2016, including a $50 million investment by Goldman Sachs. Over the years, Circle received additional VC funds, most notably from BlackRock and Fidelity Investments.

At its core, Circle offers a range of products and services designed to cater to the needs of both individual and institutional users in the cryptocurrency space. One of its flagship offerings is USD Coin (USDC), a stablecoin that is pegged to the value of the US dollar. USDC is built on blockchain technology and is designed to provide stability amidst the often volatile nature of other cryptocurrencies. The company also has a euro-backed stablecoin, called Euro Coin (EURC).

The market cap of USDC has increased by over +10,000% since 2018 but saw a significant dip in the past 15 months. Source: TradingView

Apart from stablecoins, Circle provides various payment solutions that enable businesses and individuals to send and receive payments across borders quickly and cost-effectively using cryptocurrencies. Additionally, the company offers trading services through its platform, allowing users to buy, sell, and trade a variety of digital assets.

Circle’s focus extends beyond retail users, catering to institutional clients as well. Through its Circle Invest services, the company provides investment opportunities and trading capabilities tailored to meet the needs of institutional investors looking to enter the cryptocurrency market.

When is the Circle IPO date?

According to sources cited by Bloomberg, Circle could be going public in early 2024. It is worth noting that the people familiar with the matter who were in contact with the publication said that “there’s no certainty that Circle will decide to proceed with a listing.”

“The company is talking to advisers as it prepares for a potential initial public offering, said the people, who asked not to be identified discussing confidential information.”

A Circle representative who was reached out for comment noted, “Becoming a U.S.-listed public company has long been part of Circle’s strategic aspirations,” and added that they won’t comment on rumors.

Is Circle publicly traded?

No, Circle is not publicly traded. However, there’s reason to believe the company might seek to go public in early 2024.

Judging by valuations at which Circle raised money in the past, we might have some insight into the company’s potential IPO valuation if it does end up going public:

In February 2022, Circle was valued at $9 billion according to the terms of its planned merger with Concord Acquisition Corp.
In April 2022, Circle raised $400 million from BlackRock, Fidelity, and others, valuing the company at $7.7 billion.

We can’t really say how these valuations could end up impacting Circle’s stock price. But it does seem Circle will be seeking a billion-dollar valuation in the high single digits for its IPO.

How to invest in Circle?

As of writing, Circle has not yet announced a specific date for its IPO. However, it is tentatively expected to go public in early 2024. Once Circle has officially announced the IPO date and the stock exchange it will be listed on, you will be able to buy Circle stock through a brokerage account.

Here are the steps on how to buy Circle stock:

Open a brokerage account: Choose a reputable brokerage firm that offers access to the stock exchange where Circle will be listed. Some popular brokerage firms include SimpleFX and eToro. Check our list of best futures brokers if you want to trade Circle stock derivatives.
Fund your account: Debit or wire money into your brokerage account to cover the purchase of Circle stock.
Place a buy order: Once Circle stock has been officially listed, you can place a buy order through your brokerage account’s trading platform. Specify the number of shares you want to purchase and the price you are willing to pay.
Execute the order: When the stock market opens, your buy order will be executed at the current market price. You will receive a confirmation notification from your brokerage firm.

If you want a more detailed look at how to buy stocks, particularly on eToro, check out the video below. The process of buying stocks using different brokers is mostly similar, but there can be significant differences in fees, so keep an eye on that.

The bottom line

Unfortunately, you cannot currently buy Circle stock as the USDC issuer is not publicly traded. However, that might change very quickly, as recent reports indicate a potential IPO early in 2024. Given the backing by large financial institutions like BlackRock, Fidelity, and others, it seems very likely that we will see Circle on the stock market sooner rather than later.

If you want to read more about successful private companies that might consider going public in the future, check out the following articles: