Circle
New York-based issuer of the USDC dollar stablecoin, listed on the NYSE since June 2025. It holds a money services permission in Abu Dhabi Global Market and launched its Arc blockchain in September 2026.
Industry: Stablecoins and digital payments | Location: New York, United States | Founded: 2013
About Circle
Circle Internet Group is a New York-based financial technology company that issues USDC, a stablecoin pegged to the US dollar, and the euro stablecoin EURC. It also runs payments infrastructure for institutions and develops Arc, a blockchain whose fees are paid in USDC.
Jeremy Allaire and Sean Neville founded the company in Boston in October 2013; it moved its headquarters to New York in early 2025. Allaire, previously founder and chief executive of Brightcove and chief technology officer of Macromedia, is co-founder, chief executive and chairman. Heath Tarbert is president, and chief financial officer Jeremy Fox-Geen is due to step down by the end of 2026. Neville left the board in September 2026.
Its products include the Circle Payments Network, which had 175 financial institutions enrolled at the end of June 2026, and Agent Stack, payment tools for AI agents launched in May 2026. BNY is the primary custodian of USDC reserves.
In the Middle East, Circle received a financial services permission from the Financial Services Regulatory Authority of Abu Dhabi Global Market in December 2025 to operate as a money services provider and appointed Saeeda Jaffar, formerly of Visa, as managing director for the Middle East and Africa. Arc opened its public mainnet on 16 September 2026 with validators including BlackRock, Mastercard and Visa.
A 2021 plan to go public through a merger with Concord Acquisition Corp ended in December 2022. Circle listed on the New York Stock Exchange under the ticker CRCL in June 2025, pricing 34 million shares at $31 in an offering of about $1.05 billion that valued it at about $6.8 billion, CNBC reported. For 2025 it reported total revenue and reserve income of about $2.7 billion, up 64%, and a $70 million net loss from continuing operations, after $424 million of IPO-related stock compensation.
In the second quarter of 2026 revenue and reserve income rose 7% to $701 million and net income was $48 million, with $73.3 billion of USDC in circulation at the end of June. In May 2026 Circle raised $222 million in a presale of Arc tokens led by Andreessen Horowitz.
Leadership
- Jeremy Allaire, Co-founder, Chief Executive Officer and Chairman
- Jeremy Fox-Geen, Chief Financial Officer
- Saeeda Jaffar, Managing Director, Middle East and Africa