.png "Circle closed its IPO raising $1.05 billion while Intuit inked a deal for USDC TurboTax integration. The move locks in liquidity for SMBs as the CRCL stock price surged to $83.")
Circle closed its IPO raising $1.05 billion while Intuit inked a deal for USDC TurboTax integration. The move locks in liquidity for SMBs as the CRCL stock price surged to $83.
Summary
- Circle Internet Financial bags $1.05 billion via primary issuance.
- Valuation stands at roughly $18.5 billion post-trading surge.
- Intuit partnership embeds USDC rails into QuickBooks and TurboTax.
- Intuit Q1 FY26 revenue totals $3.9 billion.
- Circle Q3 2025 net income stands at $214 million.
Full Information
Circle Internet Financial has bagged roughly $1.05 billion via its initial public offering on the NYSE. The listing signals the company’s push to capitalize on favorable stablecoin regulations and expand its global infrastructure. [Business Wire]
34 million equity shares were issued by the board at an offer price of $31 per share. The stock, trading under the ticker CRCL, surged to roughly $83 per share. This pushed the market capitalization to approximately $18.5 billion from a pricing valuation of $8.06 billion. The offering was led by Goldman Sachs, J.P. Morgan, and Citigroup. [Bloomberg]
The new listing follows earlier attempts to go public. In 2022, Circle cancelled a merger with Concord Acquisition Corp. The company had targeted a valuation of $9 billion at that time. The current valuation represents a significant premium to that figure. The move aligns with the GENIUS Act’s recent progress on stablecoin guidelines. [SEC Filings]
Intuit Inc inked a strategic commercial partnership with Circle. The Intuit Circle partnership grants access to USDC stablecoin rails for TurboTax, QuickBooks, Credit Karma, and Mailchimp. The integration brings 24/7 programmable payments to the platform. It aims to bypass traditional banking settlement delays. [Intuit Investors]
Co-founded in 2013 by Jeremy Allaire and Sean Neville, Circle provides payments and treasury infrastructure for the internet. The Boston-headquartered firm is the issuer of USD Coin (USDC). [Circle Press]
The deal comes as Intuit’s financials show a sharp shift toward AI efficiency. The company posted revenue of $3.9 billion in the first quarter of FY26. This is an 18% increase year on year. Operating income stood at $534 million. The company deployed $851 million for share buybacks during the quarter. The surge in profitability is steered by the company’s AI-driven restructuring. [Intuit Investors]
Circle reported revenue of $740 million in the third quarter of 2025. This is a 66% jump from the previous year. On the bottom line, the company posted a net income of $214 million. This marks a 202% increase. Profitability is steered by interest income on reserves and transaction fees. The company’s USDC circulation stood at roughly $73.7 billion. [Circle Press]
While revenue grew, Intuit trimmed its workforce to manage costs. 1,800 employees were laid off in July 2024. This accounts for 10% of the total workforce. The move mirrors the company’s pivot toward AI resources. Circle disclosed potential fee disputes with FT Partners in its filing. [SEC Filings]
Circle competes with Tether and PayPal. Intuit competes directly or indirectly with Block Inc and other fintech players. Block posted revenue of $6.11 billion in the third quarter of 2025. The stock plunged 12% following the earnings release. [Yahoo Finance]