By: Eva Baxter
Circle, the issuer of the stablecoin USD Coin (USDC), has confidentially filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC). The company noted that details such as the number of shares to be offered and the price range for the suggested offering are not yet available.
This is not Circle's first IPO attempt, the company's previous trial to go public via a merger with Special Purpose Acquisition Company (SPAC) named Concord Acquisition Corp. was unsuccessful. However, Circle continues to show robust growth, with its stablecoin, USDC, being the second-largest by market capitalization and over $25 billion in circulation.
In recent months, Circle has demonstrated significant global expansion. This includes forging strategic partnerships with Japanese financial giant SBI Holdings to grow its footprint in Asia and ensuring the Latin American payment network Mercado Pago provides USDC support to Chilean users. It also successfully obtained pivotal licensing in major jurisdictions, such as Singapore.
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