Circle, a company invested by Huaxing New Economy Fund under Huaxing Capital Holdings (01911), successfully landed on the NYSE and achieved the first IPO milestone in the global stablecoin sector

According to the Zhitong Finance App, Huaxing Capital Holdings (01911) issued an announcement. Circle Internet Group (“Circle”), an investment company of the Huaxing New Economy Fund managed by the group, successfully listed on the NYSE under the stock code CRCL, which became a landmark event for the first IPO in the global stablecoin field.

Circle is one of the most widely distributed, large-scale and widely used stablecoin network operators in the world, focusing on the dollar-denominated stablecoin USD Coin (USDC) it issues. Since its establishment in 2013, Circle has provided services including stablecoin infrastructure, digital finance and reserve management infrastructure, blockchain technology solutions, and developer service platforms and tools with USDC as the core.

Huaxing New Economy Fund invested in Circle in 2018, which fully demonstrates the team's optimism about the development prospects of the digital asset industry and high recognition of Circle's leading position in the industry. The listing of Circle also proved that the Group and the Huaxing New Economy Fund management team have always had in-depth research capabilities and forward-looking strategic investment vision and layout. The Group continues to be optimistic about the development of blockchain technology, and is actively exploring the layout in the field of Web 3.0 and cryptocurrency assets to continue to lead the development of cutting-edge fields of innovative technology, and strive to become a leader in Web 3.0 investment banking.

The company would like to warmly congratulate Circle Internet Group on its listing.