Stablecoin Firm Circle Files For US IPO
Circle Internet Financial, the creator of USDC, has filed for a US initial public offering to become a publicly-traded company.
The company controls USDC, a cryptocurrency pegged to the U.S. dollar, and plans to sell around $25 billion worth of tokens in circulation.
The IPO is expected to occur after the Securities and Exchange Commission completes its review process, subject to market and other conditions.
The company previously had a 2022 deal to go public via a special-purpose acquisition company, but ended that deal in December 2022.
USDC is the second-biggest stablecoin after Tether and the seventh-biggest cryptocurrency overall. The IPO filing is confidential and will be subject to market and other conditions.
(With inputs from Shikha Singh)
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