Stablecoin issuer Circle, the firm behind USDC, is reportedly considering going public in early 2024 as according to sources familiar with the situation it’s in discussions with advisers to prepare for a potential initial public offering (IPO).
The decision to go public isn’t final and Circle may choose not to pursue a listing. Circle’s valuation in an IPO would be unclear, but it was worth $9 billion when it attempted to merge with a blank-check company in 2022.
A Circle representative noted that “becoming a U.S.-listed public company has long been part of Circle’s strategic aspirations,” but added the company doesn’t “comment on rumors.”
The company ended a deal to go public through a merger with Concord Acquisition, a blank-check firm headed by former Barclays CEO Bob Diamond.
Circle has received funding from investors such as Goldman Sachs Group, General Catalyst Partners, BlackRock, Fidelity Management and Research and Marshall Wace, and had a $7.7 billion valuation in a 2022 funding round.
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- Source: https://www.cryptocompare.com/email-updates/daily/2023/nov/08/
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