Circle, the company behind the market’s second-largest stablecoin USDC, is reportedly mulling an initial public offering (IPO) for next year. Sources close to the matter have indicated that Circle is in discussions with advisory entities regarding a public listing. The dollar-pegged token is purported to be backed by cash deposits, treasuries, and similar assets, and the firm’s value was last estimated at $9 billion during a previous attempt to merge with a Special Purpose Acquisition Company (SPAC) in 2022. An IPO is a traditional process through which a private firm becomes publicly traded by selling its shares to investors, while a SPAC deal is an expedited alternative where a company goes public by merging with an already listed shell company. The previous attempt to go public fell through. Circle has a notable roster of investors, including financial institutions such as Goldman Sachs, Fidelity, and Blackrock. This news is good for Circle, as it will give them a better chance of becoming publicly traded. #Circle #IPO #USDC #Stablecoin
You can read more about this topic here: Decrypt: Stablecoin Behemoth Circle Mulls 2024 IPO: Report
