Nikolas Sargeant
Circle moves forward with traditional public offering plans, seeking to list its USDC-backing operations on the New York Stock Exchange under ticker "CRCL."
USDC Issuer Takes Second Shot at Public Markets
Boston-based fintech firm Circle, the company behind USD Coin (USDC) stablecoin, has officially submitted a Form S-1 registration statement to the U.S. Securities and Exchange Commission (SEC), advancing its plans to go public through a traditional initial public offering (IPO).
The company has announced its intention to list Class A common stock on the New York Stock Exchange under the ticker symbol "CRCL." While the pricing range for the offering remains undisclosed, Circle noted that the IPO's timing will depend on regulatory approval and broader market conditions.
This represents Circle's second attempt to access public markets, following an unsuccessful $9 billion SPAC merger deal that fell through in 2022.
USDC's Role in DeFi and Market Sentiment
As the second-largest stablecoin by market capitalization, USDC has established itself as a key instrument in digital payments and decentralized finance (DeFi) applications. Market observers suggest that a successful Circle IPO could serve as an important indicator of sentiment toward the broader cryptocurrency sector, particularly amid increasing regulatory scrutiny of stablecoin issuers.
Circle Strengthens IPO Push With Big Bank Backing
To bolster its latest public offering attempt, Circle has secured JPMorgan Chase and Citi as lead underwriters, according to reporting from Fortune. The public filing is anticipated to follow in late April, with the company reportedly targeting a valuation between $4 billion and $5 billion.
If completed, Circle's offering would mark one of the most significant public listings in the cryptocurrency industry since Coinbase made its market debut in 2021, potentially establishing a new benchmark for how traditional finance markets value regulated crypto-focused businesses.
