2024-08-01
Circle Internet Financial is the issuer of the USD Coin (USDC). USDC is the second largest stablecoin by market cap only after USDT.
Circle is reportedly preparing for an
initial public offering (IPO) with a valuation in the secondary market ranging
between $5 billion to $5.25 billion.
This is a huge decrease from the $9
billion valuation it had during its first attempt to go public via a SPAC deal
in 2022, which ultimately did not succeed.
The current valuation is based on
trades involving early-stage investors and Circle employees, with the company
setting a floor price that does not allow trades below a $5 billion valuation.
However, Circle does not provide the details
of the planned IPO yet.
