Companies
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Circle
Fintech
Circle is the company behind USDC, one of the largest U.S. dollar-backed stablecoins, and a broader stablecoin and digital payments infrastructure provider that went public in 2025.
$393M
+$27.07
997.57%
30 days ago
$2.71
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Circle was founded in 2013 by Jeremy Allaire and Sean Neville, initially building various consumer-facing crypto payment and trading products before pivoting its core business toward stablecoin infrastructure, launching USD Coin (USDC) in 2018 in partnership with Coinbase through a consortium called Centre, a cryptocurrency token designed to maintain a stable value pegged one-to-one with the U.S. dollar, backed by reserves held in cash and short-term U.S. government securities, in contrast to more volatile cryptocurrencies like Bitcoin or Ethereum. USDC has grown to become one of the largest dollar-backed stablecoins by market capitalization, widely used across cryptocurrency exchanges, decentralized finance applications, and increasingly for cross-border payments and settlement given stablecoins' ability to move value globally nearly instantly and at low cost compared to traditional banking rails. Circle's business model centers primarily on earning interest income from the reserves backing USDC in circulation, meaning the company's revenue has historically been closely tied to both the total amount of USDC in circulation and prevailing short-term interest rates, since Circle earns yield on the government securities and cash held in reserve to back each USDC token. The company took full ownership of USDC's issuance and governance after unwinding its Centre consortium arrangement with Coinbase in 2023, though Coinbase retains certain revenue-sharing arrangements related to USDC. Circle pursued a public listing for several years, including an earlier attempted SPAC merger that was ultimately abandoned, before successfully completing a traditional initial public offering on the New York Stock Exchange in June 2025, a notable public listing in the crypto industry and a signal of stablecoins' growing mainstream financial legitimacy, particularly as U.S. regulatory clarity around stablecoins advanced through federal legislation. Circle has raised substantial private funding over its history from investors including General Catalyst, Fidelity, and IDG Capital prior to its public listing.
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