SBI Invests $50M in Circle’s NYSE IPO as Part of Broader USDC Strategy in Japan

Japan’s SBI Group has invested $50 million in Circle during the stablecoin issuer’s debut on the New York Stock Exchange (NYSE), signaling a strong vote of confidence in the company’s future and a deeper commitment to integrating USDC into Japan’s financial infrastructure.

The investment, announced Monday, gave SBI a 5% share of the 34 million Circle shares offered in the upsized IPO on June 4. The stake was split evenly between SBI Holdings and its banking arm, SBI Shinsei Bank.

Circle, the company behind the USDC stablecoin, raised roughly $1.1 billion through the IPO. Among other high-profile buyers was Cathie Wood’s Ark Invest, which acquired 4.48 million shares valued at $373.4 million. Trading under the ticker CRCL, Circle’s stock price has surged nearly 300% from its IPO price of $31, closing Monday at $115 and rising to $118 in Tuesday’s pre-market session. That spike brings the company’s market capitalization to about $22 billion.

SBI’s support goes beyond financial backing. The group is working closely with Circle to expand the use of USDC in Japan. In March, the two companies launched regulated access to USDC via SBI’s licensed crypto platform, SBI VC Trade, after the country revised its stablecoin rules. They also launched Circle SBI KK Japan, a joint venture formed under their 2023 strategic alliance to promote USDC adoption among Japanese businesses and consumers.

Circle remains the only publicly traded stablecoin issuer in the U.S., while its chief rival, Tether (USDT), operates offshore and leads the global stablecoin market with over $156 billion in circulation—more than double USDC’s approximate $60 billion market cap.

The IPO’s strong performance has already drawn attention from the broader investment community. Asset managers ProShares and Bitwise have filed to launch exchange-traded funds (ETFs) based on CRCL, indicating growing institutional interest.