Circle, the issuer of the USDC stablecoin, has confirmed its plans to conduct an initial public offering (IPO) by late April. To achieve this, Circle has enlisted the investment banking giants JPMorgan Chase and Citi.
Partnership with Investment Banks
Circle has chosen to partner with financial sector giants such as JPMorgan Chase and Citi. This move underscores its ambitions to become one of the largest crypto companies represented on public markets.
Valuation and Internal Plans
Circle is aiming for a valuation between $4 and $5 billion. Following the abandonment of SPAC merger plans due to regulatory hurdles and market volatility, the company confidentially filed for a traditional IPO in 2024.
Impact and Expectations on Crypto Market
The upcoming IPO is expected to be a significant event for the cryptocurrency sector, comparable to Coinbase's 2021 listing. With USDC's market capitalization rebounding to $60 billion, Circle's market debut is anticipated to attract investor attention and solidify its position as a leading stablecoin issuer.
Circle's public listing could mark a significant milestone for the company and the broader crypto market, offering those interested a deep insight into its financial state and future plans.
