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Stablecoin Company Circle Wants To IPO

January 13, 2024
x min read

The company behind one of the largest stablecoins in crypto wants to hit Wall Street next.

What’s happening:

  • USDC stablecoin issuer Circle has confidentially filed for an IPO with the SEC to become publicly listed on a major US stock exchange

Why it matters:

  • Circle is one of the most important companies in the crypto ecosystem, building real world applications for stablecoins to be used for global payments
  • Circle has built significant digital asset infrastructure to help revolutionize cross border payments and instant settlements, including assembling a wide range of notable partners such as Robinhood, Visa, Mastercard, MoneyGram and others

Going deeper:

  • Circle previously entered into a deal with a SPAC to go public at a valuation of approximately $9B USD, however the transaction was ultimately cancelled
  • Circle has many notable investors already, including Fidelity, BlackRock, Goldman Sachs and others
  • Aside from USDC, Circle is also the issuer of EURC which is a Euro dollar backed stablecoin

By the numbers:

  • USDC is the 7th largest digital asset in the world
  • The current market capitalization of USDC is approximately $25B USD

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