According to Bloomberg, stablecoin issuer Circle Internet Financial Ltd. is exploring an IPO in the first half of 2024.
The startup, which produces the widely used USDC stablecoin, is reportedly in talks with advisers ahead of a possible public offering in 2024. Circle has not yet decided whether or not to go forward with an IPO, but the talks are still in their early stages.
When contacted about the IPO talks, a Circle representative stated in a statement, “Becoming a US-listed public company has long been part of Circle’s strategic aspirations.” To put it simply, “We don’t comment on rumors.”
Investors have shown a lot of interest in the cryptocurrency industry recently, so it wouldn’t be surprising if Circle decided to go public. Circle was valued at $9 billion when it sought a public listing via a combination with a blank-check business last year, but the sources did not disclose this amount.
That merger plan with Concord Acquisition Corp. to take the company public failed. Goldman Sachs, BlackRock, and Fidelity Investments are just a few of the prestigious institutions that have provided private money to Circle. In a capital round in 2022, the business was reportedly valued at $7.7 billion.
The USDC token that Circle issues is widely used since it is tethered to the US dollar and ranks as the second biggest stablecoin. An IPO would offer greater openness to the firm behind this crucial digital asset.
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