USDC Issuing Circle Files for IPO in the United States: Report
Circle Internet Financial, the issuer of USD Coin (USDC) – the second largest stablecoin by market capitalization – has reportedly filed for an initial public offering (IPO) in the United States.
On January 11, media outlet Reuters reported that Circle's IPO filing is part of the company's plan to become a publicly traded company. But the stablecoin issuer did not disclose the price range for the IPO filing or the number of shares it plans to sell.
The company expects to proceed with the IPO after the US Securities and Exchange Commission completes the review process, which is still dependent on market conditions.
The Circle talks will go public in 2018. It was initially valued at $4.5 billion when the stablecoin issuer announced plans to go public in 2021 by merging with blank check company Concorde Acquisitions Corp. In the year The estimate rose to $9 billion by 2022, but was eventually dropped.
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However, the topic resurfaced in 2023 when a Bloomberg report cited anonymous sources as saying that the company was in talks with its advisers and was preparing for an IPO. At the time, it was part of the company's “strategic ambitions” to have a representative from Circle officially register in the US. However, Club refused to comment on the rumours.
Circle issues the USDC stablecoin, which is pegged to the US dollar. The asset is one of the largest stablecoins in the world with a capitalization of $25 billion.
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