USDC Issuer Circle Set for IPO in 2024
BITmarkets Team
Nov 08, 2023
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
