USDC Issuer Circle Set for IPO in 2024
08 Nov, 2023 ● Coin news
Bloomberg reported that USD Coin (USDC) issuer Circle is considering an initial public offering (IPO) in early 2024.
According to a Nov. 7 Bloomberg report citing people familiar with the matter, the stablecoin issuer is discussing the move with its advisers, but there is no guarantee the discussions will result in a public listing.
Circle had planned to go public in July 2021 through a $4.5 billion merger with Concord Acquisition, but that deal fell through.
"Becoming a U.S.-listed public company has long been a part of Circle's strategic aspirations," a Circle representative informed Bloomberg.
Circle has remained tight-lipped about the specifics. "We don't comment on rumors," the reps added.
A potential IPO would see Circle, which is now privately held, publicly offer shares for the first time.
Circle was valued at $9 billion in February 2022, following a revision to its merger agreement with Concord.
USDC's market capitalization, on the other hand, has dropped 56% from its peak of $55.9 billion in June 2022 to $24.6 billion.
Circle has received funding from BlackRock, Fidelity Management, Goldman Sachs, General Catalyst Partners, and Marshall Wace.
Sources:
https://cointelegraph.com/news/circle-mulling-public-launch-next-year-bloomberg
