Stablecoin issuer Circle has engaged top investment banks to aid in its IPO preparations.
Circle's IPO Journey and Progress
Circle has been working for several years to go public but has faced numerous obstacles. Initially, its SPAC merger plans were hindered by the SEC. However, with new partnerships with JPMorgan Chase and Citigroup, the most sought-after IPO is anticipated to happen this April. Although the specific timeline is yet to be announced, trading is expected to begin within weeks after filing.
Improved US Regulatory Shift
Circle may need to extend its timeline if faced with regulatory challenges. The US regulatory landscape has improved since the Trump administration and Mark Uyeda's appointment as interim SEC Chair. With favorable policies and regulatory frameworks, many crypto firms have found success in their dealings with the SEC.
More Crypto Firms Plans For IPO
In addition to Circle, other Web3 ecosystem service providers are also eyeing public markets. Recently, Gemini confidentially filed for an IPO. Singapore-based Bgin Blockchain Limited has also filed for a US IPO. Other firms suspected of pursuing an IPO include Kraken, Bullish, and Blockchain.com.
The IPO for Circle and other firms may solidify their market positions and unlock new growth opportunities.
