Circle considering IPO in 2024


according to BloombergCircle, the USDC stablecoin issuer with a market capitalization of over $24 billion, is considering an initial public offering (IPO) in 2024.

Bloomberg, citing anonymous sources, reported that the company has been discussing a potential IPO with advisers. According to reports,

“While it’s unclear how much Circle will be valued in the IPO, it will be valued at $9 billion when it attempts to go public in a blank-check deal in 2022.”

In 2021, Circle agreed to pursue an IPO through a merger with a special purpose acquisition company (SPAC) called Concord Acquisition Corp., but the deal later fell through. A Circle representative told Bloomberg:

“Becoming a U.S. public company has long been part of Circle’s strategic vision. We do not comment on rumors.”

Circle’s investors include financial giants such as Goldman Sachs, Fidelity and BlackRock. The stablecoin USDC, which once had a market value of nearly US$56 billion, has fallen sharply since June 2022.

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