Circle Internet Group Inc. filed publicly for a long-awaited initial public offering, with the stablecoin provider showing steadily increasing revenue.The company, led by Jeremy Allaire, reported net income of $156 million on revenue of $1.

Circle, the company behind the USDC stablecoin, has filed for an initial public offering with the U.S. Securities and Exchange Commission. The S1 lays the groundwork for Circle's long-anticipated entry into the public markets.

Circle, the U.S.-based stablecoin issuer, is going public. The firm filed an S-1 form with the Securities and Exchange Commission (SEC) on Tuesday. If approved, the company's stock will be trading on the New York Stock Exchange under the symbol "CRCL.