Circle Plans an IPO Next Year
Circle Internet Financial, the company behind the USDC stablecoin, is reportedly considering becoming a publicly traded company in early 2024.
According to sources, negotiations have begun with consultants, including Goldman Sachs, General Catalyst, and BlackRock, to help facilitate the placement of shares.
While discussions are ongoing, it is not guaranteed that Circle will ultimately go public in the US.
A company representative stated:
“Going public has long been on our strategic agenda. We do not comment on rumors.”
In July 2021, Circle announced its plan to become a public company through a reverse merger with Concord Acquisition Corp, with shares to be listed on the NYSE under the ticker symbol CRCL.
However, in December 2022, Circle terminated its SPAC deal due to market conditions and Wall Street’s waning interest in crypto firms.
Despite this setback, the company’s value increased from $4.5 billion to $9 billion in February 2022, prompting the boards of directors to approve a new agreement.
The deal was set to close by December 8, with the option to extend until January 31, 2023.
