In a significant move towards its highly anticipated public listing, Circle, the prominent issuer of the USDC stablecoin, has enlisted the services of investment banking giants JPMorgan Chase and Citi. The company is set to publicly file for its initial public offering (IPO) by late April, marking a major step forward in its long-standing efforts to go public.
Circle’s decision to partner with JPMorgan and Citi underscores its ambition to secure a valuation between $4 and $5 billion, positioning it as one of the largest crypto offerings in recent history. This development follows Circle’s confidential filing for a traditional IPO earlier in 2024, after previously abandoning plans for a SPAC merger due to regulatory hurdles and market volatility.
The upcoming IPO is expected to provide the first comprehensive insight into Circle’s financials and will be a significant event in the crypto sector, rivaling the scale of Coinbase’s 2021 listing. With USDC’s market capitalization rebounding to around $60 billion, Circle’s public listing is anticipated to attract substantial interest from investors and further solidify its position as a leading stablecoin issuer.
