Circle had a successful initial public offering (IPO) in June 2025.

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Just weeks after its blockbuster IPO, USDC stablecoin issuer Circle announced Monday that it is seeking approval from the Office of the Comptroller of the Currency, or OCC, to launch a national trust bank.

Circle went public on June 5 under the ticker CRCL in what will likely go down as one of the hottest IPOs in years. The offering was 25 times oversubscribed, priced above the indicated range at $31, and soared 167% on the first day.