USDC issuer Circle files for IPO amid hot crypto market

USDC CRYPTO_NEWS

Stablecoin issuer Circle Internet Financial has filed confidential paperwork for an initial public offering, which would come as the cryptocurrency market has reignited.

Circle, which issues the stablecoin USDC that’s pegged to the U.S. dollar, announced Thursday that it filed a draft registration statement with the Securities and Exchange Commission, an announcement that comes on the same day that spot bitcoin ETFs were allowed to begin trading.

The company previously intended to go public through a merger with special-purpose acquisition company Concord Acquisition Corp., though the two parties called off that arrangement in December 2022.

Emerging growth companies can choose to file paperwork confidentially as the SEC reviews their information. The company has yet to determine the number of shares it will offer or the price range for the offering.

Source : MarketWatch / Jan 11, 2024

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