Stablecoin Issuer Circle Files for IPO on NYSE
Boston-based fintech firm Circle, the issuer of the USD Coin (USDC) stablecoin, has submitted a Form S-1 to the U.S. Securities and Exchange Commission (SEC) as part of its plans to go public. The company plans to list its Class A common stock on the New York Stock Exchange (NYSE) under the ticker symbol “CRCL.”
The initial offering price range has not yet been disclosed, and the IPO’s timing will depend on SEC approval and market conditions. Circle previously attempted to go public through a $9 billion SPAC merger in 2022, but the deal fell through.
USDC is the second-largest stablecoin, widely used in digital payments and decentralized finance (DeFi). A successful IPO could boost confidence in the cryptocurrency sector as regulators continue scrutinizing stablecoin issuers.
Circle Gears Up for IPO With New Bank Hires
Circle has hired JPMorgan Chase and Citi to lead its long-anticipated initial public offering. A public filing is expected as early as late April, Fortune reported on Monday. Circle is reportedly seeking a valuation between $4 billion and $5 billion for its traditional IPO. If successful, the listing would rank among the most significant public debuts in the crypto sector since Coinbase went public in 2021.