April 2 (Reuters) - Circle Internet Group, the company

behind the USDC stablecoin, filed for an initial public offering

on Tuesday after markets closed, as it prepares to list its

shares on the New York Stock Exchange.

The IPO market is currently in a delicate place, as

investors look to balance demand for new listings against risks

posed by economic uncertainty, such as tariffs.

Circle reported it earned $1.68 billion in revenue and

reserve income last year, compared with $1.45 billion a year

earlier. Net income from continuing operations was nearly $157

million in 2024 versus $271.5 million in the previous year.

The IPO would be Circle's second attempt at going public,

coming more than two years after it terminated a $9 billion

merger with a special purpose acquisition company.

USDC is the second-biggest stablecoin, after Tether, and the

seventh-biggest crypto token overall, according to market

tracker CoinGecko. The tokens are backed by cash and cash

equivalents, including short-term Treasury bonds.

J.P. Morgan and Citigroup are the lead underwriters for the

IPO. The company is expected to trade under the ticker "CRCL".