Circle Internet Financial, the entity behind the stablecoin USDC, revealed on Thursday that it has confidentially submitted documents for a U.S. initial public offering (IPO) with the aim of transitioning into a publicly traded company.
The specifics of the IPO, such as the number of shares to be offered and the proposed price range, were not disclosed in the filing.
The IPO is anticipated to proceed once the Securities and Exchange Commission (SEC) completes its review process, contingent upon market conditions and other factors, as stated by the company.
Circle had previously asserted a valuation of $9 billion in a 2022 deal to go public through a special-purpose acquisition company, which was terminated in December 2022.
After the setback, Circle CEO Jeremy Allaire expressed disappointment and affirmed the company’s continued intention to go public.
Headquartered in Boston, Circle oversees the issuance and governance of USDC, a stablecoin pegged to the U.S. dollar.
USDC ranks as t
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