Finance, Circle, USDC The issuer of the USDC stablecoin is aiming once more to go public after an tried SPAC merger in 2021 by no means materialized.
Circle Internet Financial, the issuer of the USDC stablecoin, has reportedly employed funding banks JPMorgan Chase and Citi because the underwriters of a hoped-for IPO, Fortune reported.
While timing will not be but completely determined, sources say Circle will publicly file its prospectus in late April, which means a possible IPO maybe previous to June.
The firm had beforehand filed confidential paperwork with the U.S. Securities and Exchange Commission (SEC) in January 2024.
Circle in 2021 had tried to go public through a SPAC merger in 2021, however that try was derailed first by an intransigent SEC after which by the crypto collapse of 2022. It finally pulled the SPAC deal by the tip 2022.
According to folks acquainted with the matter that spoke with Fortune, Circle is in search of a $4 billion to $5 billion valuation.
CoinDesk reported in July that the corporate was valued at roughly $5 billion in non-public secondary markets.
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