Circle, the firm behind USDC stablecoin, is considering going public with a potential Initial Public Offering (IPO) in 2024.
According to a Bloomberg report, the USDC stablecoin issuer is planning for the IPO as soon as early 2024. The company is currently talking to advisors and preparing for going public, says the sources who are familiar with the matter.
Circle is backed by world’s leading finance giants including Goldman Sachs, BlackRock, General Catalyst and others. It currently has a market cap of nearly $25 billion which at a time peaked to $55 billion in June 2022.
“Becoming a U.S. listed public company has long been part of Circle’s strategic aspirations. We don’t comment on rumors,” said a representative from Circle.
While there is no any recent announcement or hint from Circle regarding the IPO, its plan for becoming a publicly traded company has manifested since a year now as it previously tried to public via a blank-check deal last year. It was valued at $9 billion at that time.
Whereas in 2021, Circle planned to go public via a merger with Concord Acquisition Corp (NYSE: CND) but the deal later waned.
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