Stablecoin Firm Circle Files For US Initial Public Offering: Reports

The USDC issuer – Circle, has been considering an Initial Public Offering (IPO) since last year. Finally, reports claim that it has confidentially filed for a US IPO.

In the United States, multiple crypto mining firms and a prominent crypto exchange, Coinbase, are already listed on stock exchanges. Consequently, this establishes a precedent demonstrating that crypto firms can transition to becoming publicly traded companies in the country.

Circle Internet Financial Aims to Become a Publicly Traded Company in the US

According to Reuters, Circle has confidentially filed for a US IPO. However, the company has not disclosed the number of shares it plans to dilute or the price range of its shares.

In November 2023, BeInCrypto reported that the company was exploring the possibility of going public. Not to mention, in 2022, Circle had a valuation of $9 billion.

“The IPO is expected to take place after the Securities and Exchange Commission completes its review process, subject to market and other conditions,” the company said.

Circle’s USDC is the second largest stablecoin after Tether’s USDT. The screenshot below shows that out of the total stablecoin market capitalization, USDC has a dominance of 18.24%.

Read more: A Guide to the Best Stablecoins in 2024

Stablecoins Market Dominance. Source: DefiLlama

Alongside Circle, there have been speculations about Ripple going public in 2024. In October 2023, BeInCrypto reported that Ripple was hiring for a “Shareholders Communications Senior Manager” position. Back then, some community members believed that a company might need a Shareholders’ Communications Manager if it planned an IPO.

Read more: Top 12 Crypto Companies to Watch in 2024

Do you have anything to say about Circle IPO or anything else? Write to us or join the discussion on our Telegram channel. You can also catch us on TikTok, Facebook, or X (Twitter).

For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.