Circle reportedly considering 2024 IPO: Bloomberg

Circle Internet Financial Limited, the Boston-based issuer of the USDC stablecoin, is considering an initial public offering in early 2024, unnamed sources familiar with the matter told Bloomberg

See related article: The UK plans to introduce fiat-backed stablecoin rules in early 2024

Brief information

  • The stablecoin issuer is talking to advisers about an IPO but has not yet made a final decision, Bloomberg reported.
  • Circle was valued at $9 billion when it launched an initial public offering through a merger with special purpose acquisition company (SPAC) Concord Acquisition Corp. tried before the stablecoin issuer pulled out of the business last December.
  • Circle raised $400 million in April 2022 from investors including Goldman Sachs, General Catalyst Partners, BlackRock and Fidelity, when the company’s valuation was at $7.7 billion, according to Axios.
  • According to data from CoinMarketCap, USDC is the world’s second-largest stablecoin by market cap with a market cap of $24.4 billion, second only to Tether’s USDT, which has a market cap of over $86.1 billion.

See related article: Singapore, Japan, Switzerland and the United Kingdom want to work together on pilot projects for digital assets

TaraSubramaniam

TaraSubramaniam is a Dailynationtoday U.S. News Reporter based in London. His focus is on U.S. politics and the environment. He has covered climate change extensively, as well as healthcare and crime. TaraSubramaniam joined Dailynationtoday in 2023 from the Daily Express and previously worked for Chemist and Druggist and the Jewish Chronicle. He is a graduate of Cambridge University. Languages: English. You can get in touch with me by emailing: tarasubramaniam@dailynationtoday.com.

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