Circle Internet Financial Considering IPO in 2024
Circle Internet Financial, the issuer of stablecoin USDC, is reportedly exploring the possibility of going public in 2024. This comes after the company’s previous plans to go public through a SPAC deal with Concord Acquisition Corp fell through.
The Boston-based firm is currently in discussions with advisers about the potential IPO, but no final decision has been made yet. While Circle has not confirmed the reports, a spokesperson stated that becoming a publicly listed company in the US has always been part of their strategic aspirations.
Circle’s Journey Towards IPO
Initially, Circle aimed to go public in July 2021, but later entered into a new deal with Concord Acquisition Corp in 2022. However, this deal was not approved by the SEC. In August 2023, Coinbase acquired a minority stake in Circle after dissolving their Centre Consortium partnership.
Furthermore, Circle has filed a note of protest as part of the SEC’s litigation against Binance, arguing that stablecoins should not be considered securities.
Hot Take: Circle’s Potential IPO Signals Growing Crypto Market
The potential IPO of Circle Internet Financial reflects the increasing significance and maturation of the crypto market. If successful, this move could further legitimize and mainstream digital assets within traditional financial markets, potentially paving the way for more crypto-related companies to seek public listings in the future.
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