USDC issuer Circle is reportedly preparing for an initial public offering (IPO) in the United States, as revealed by Reuters today (11). The current article does not disclose the quantity of stocks to be sold or the price range under negotiation.
(Prior summary:
Entering the European market: Circle and Coinbase registered as virtual asset DASP through the French regulatory authority.
)
(Background supplement:
Circle blocks Sun Yuchen! Refutes funding terrorism: terminates USDC services to Huobi HTX and Tron.
)
Stablecoin issuer Circle was reported by Reuters today (11) to be secretly undergoing an IPO (Initial Public Offering) in the United States. The report states that there is currently no information regarding the quantity of stocks available for sale or the price range.
It is understood that Circle had previously planned to go public through a Special Purpose Acquisition Company (SPAC) in 2022, with an estimated value of around 9 billion US dollars. However, this plan failed in December 2022. CEO Jeremy Allaire stated that despite the failed acquisition, they would not give up on going public in the future.
Current USDC circulation
According to CoinGecko data, the current circulation of USDC is 25 billion US dollars, with most assets backed by short-term US Treasury bonds. However, this circulation is only 44% of the circulation during the SPAC in 2022, which was 56 billion US dollars.
Related Reports
Facing the overwhelming dominance of USDT, Circle is eager to make another IPO attempt.
Circle founder retweets! Developers create “personal automated bank” using ChatGPT: AI integrates with Web3 multisignature wallets and manages USDC investments.
Circle launches “Cross-Chain USDC Standard” to bridge native USDC upgrades and enjoy official reserve protection.