USDC, a popular stablecoin with a market cap of over $25 billion, has filed for an initial public offering (IPO) to become a publicly traded company. Circle, the company behind USDC, has submitted a draft registration statement S-1 form with the U.S. Securities and Exchange Commission (SEC) in a confidential manner. This approach allows companies to finalize their IPO plans privately.
The specific details regarding the number of shares and pricing are still unknown. The launch of the IPO is subject to SEC review and market conditions. Previously, Circle had explored the possibility of going public through a merger with Concord Acquisition Corp., but that plan fell through.
Circle’s investors include major financial institutions such as Goldman Sachs, Fidelity, and BlackRock. The company has not yet responded to requests for comment from The Block.
Hot Take: USDC Files for IPO
USDC, one of the largest stablecoins in the market with a market cap exceeding $25 billion, has taken steps towards becoming a publicly traded company by confidentially filing for an initial public offering (IPO). Circle, the company behind USDC, has submitted a draft registration statement S-1 form to the SEC in order to finalize its IPO plans away from the public eye.
The specific details about share quantity and pricing are still to be determined and are pending SEC review and market conditions. Circle had previously considered going public through a merger, but that arrangement did not materialize. With major investors like Goldman Sachs and BlackRock on board, Circle’s move towards an IPO indicates growing interest and confidence in the stablecoin industry.
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