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
- 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