Circle Internet Financial has made a unique move by filing for an initial public offering (IPO) of its securities with the U.S. Securities and Exchange Commission (SEC). This announcement comes as Circle aims to become a publicly listed company on U.S. exchanges.
The IPO will proceed once the SEC completes its review and approves the special registration statement on Form S-1.
“Becoming a public company listed on US exchanges has long been part of Circle’s strategic aspirations,” declared Circle, the company behind the USDC stablecoin, in an official statement.
Circle has clarified that the number of shares to be offered on the stock market, as well as the price range, will be determined based on market conditions.
According to Bloomberg’s sources, discussions during Circle’s consultations with stock market experts indicated the potential for an initial share offering valued at approximately $9 billion.
In 2021, Circle initially planned to go public through a merger with SPAC Concord Acquisition. However, in December 2022, it announced the termination of the merger process and its withdrawal from the deal.
Eleanor Ashworth is editor-in-chief at BTCNews. A Cambridge-trained journalist with 18 years across the Financial Times, Reuters and the Telegraph, she joined the crypto beat in 2017 after covering the Bank of England and HM Treasury. She holds the SABEW Best in Business award (2022) and was shortlisted for the British Journalism Awards (2023). At BTCNews she sets the editorial line for Bitcoin and macro markets coverage, with a focus on institutional adoption, regulation and central-bank policy. Based in London.
