Circle, the firm behind USDC stablecoin, is considering going public with a potential Initial Public Offering (IPO) in 2024.
According to a Bloomberg report, the USDC stablecoin issuer is planning for an IPO as early as 2024. The company is currently talking to advisors and preparing to go public, say the sources who are familiar with the matter.
Circle is backed by the world’s leading financial giants, including Goldman Sachs, BlackRock, General Catalyst, and others. It currently has a market cap of nearly $25 billion, which peaked at $55 billion in June 2022.
“Becoming a U.S. listed public company has long been part of Circle’s strategic aspirations. We don’t comment on rumors,” said a representative from Circle.
While there has been no recent announcement or hint from Circle regarding the IPO, its plan for becoming a publicly traded company has been manifested for a year now, as it previously tried to go public via a blank-check deal last year. It was valued at $9 billion at that time.
Also in 2021, Circle planned to go public via a merger with Concord Acquisition Corp. (NYSE: CND), but the deal later waned.