In a surprising reveal that’s creating major buzz in the crypto world, Circle, the company behind the USDC stablecoin, holds more SEI tokens than any other digital asset on its balance sheet.
This detail was quietly tucked inside the company’s IPO filing, and it’s now drawing massive attention after SEI Network spotlighted the news in a congratulatory post on X.
“Circle holds more $SEI tokens than any other token on its balance sheet according to its IPO filing,” SEI Network wrote. “Stablecoin issuers like Circle are starting to recognize Sei technology as a driver for their next stage of growth.”
This strategic holding is a huge win for the SEI ecosystem. It shows that one of the world’s leading stablecoin issuers is not only bullish on Sei’s technology but sees it as essential to scaling operations in the new era of compliant, high-speed crypto infrastructure.
The timing of this reveal couldn’t have been more dramatic. On June 5, Circle Internet Group Inc. made its public market debut at $31 a share. The stock soared 168% on day one and hit a high of $263.45 earlier this week before a 17% correction on Tuesday.
Even after the dip, the stock is still up around 750% since its IPO, pushing Circle’s market cap past $59 billion at its peak.
Much of this market momentum is fueled by the recent Senate approval of the GENIUS Act, which paves the way for the first clear U.S. regulatory framework for stablecoins.
With regulation now moving forward, traditional investors are beginning to see the long-term value in firms like Circle that are building within the rules, and with the right partners.
SEI Network, built as a fast and efficient Layer 1 blockchain for trading and payments, is now getting serious attention. With Circle holding more $SEI than any other token, it’s clear they believe in not just the token, but the whole SEI ecosystem, as a key piece of future financial tech.
