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

https://www.bloomberg.com/news/articles/2023-11-07/stablecoin-issuer-circle-internet-said-to-consider-2024-ipo#xj4y7vzkg