USDC stablecoin issuer files for IPO

Circle Internet Financial announced that it has filed with the U.S. Securities and Exchange Commission (SEC) for approval of an initial public offering of its securities on the stock market..

The IPO will take place immediately after the US regulator completes its review and approves the special registration statement on Form S-1.

“Becoming a public company listed on US exchanges has long been part of Circle’s strategic aspirations,” the USDC stablecoin issuing company said in its official announcement..

Circle explained that the number of shares that are planned to be placed on the stock market, as well as their price range, have not yet been determined and will depend on market conditions.

Bloomberg reported, citing anonymous sources, that during Circle's consultations with stock market experts on the future of the IPO, participants discussed a possible project for an initial issue of shares of the company worth about $9 billion.

Circle planned to go public in 2021 through a merger with SPAC Concord Acquisition. However, in December 2022, the issuer of the USDC stablecoin announced the termination of the merger process and withdrawal from the deal.