Circle, the entity behind the USDC stablecoin, is exploring the possibility of a public debut through an Initial Public Offering (IPO) in 2024.
As per a report from Bloomberg, sources familiar with the matter indicate that the issuer of the USDC stablecoin is actively considering an IPO as early as 2024. The company is presently engaging with advisors and making preparations for the public offering.
Backed by major financial powerhouses such as Goldman Sachs, BlackRock, General Catalyst, and others, Circle currently boasts a market capitalization of nearly $25 billion, having reached a peak of $55 billion in June 2022.
A representative from Circle stated, “Becoming a U.S. listed public company has long been part of Circle’s strategic aspirations. We don’t comment on rumors.”
Although Circle has not made any recent official announcements or indications regarding the IPO, its intention to transition into a publicly traded company has been apparent for about a year. The company previously pursued a public listing through a blank-check deal in the prior year, achieving a valuation of $9 billion at that time.
In 2021, Circle also aimed to go public through a merger with Concord Acquisition Corp. (NYSE: CND), but the deal eventually dissipated.
