USDC’s Issuer Circle Might Go Public in 2024

According to a report from Bloomberg, Circle, the company behind the USDC stablecoin with a market capitalization of over $24 billion, is considering going public in 2024.

The company has reportedly been in discussions with advisors about the possibility of an initial public offering (IPO), but the exact value that Circle would seek for the IPO is not yet clear.

The report states that the company was previously valued at $9 billion in 2022 when it attempted to go public through a blank-check deal.

In 2021, there were talks of Circle going public through a merger with a Special Purpose Acquisition Company (SPAC) named Concord Acquisition Corp., but the deal ultimately fell through.

Despite this, becoming a publicly listed company in the US has always been a part of Circle’s strategic goals. A representative for Circle declined to comment on the rumors, according to the Bloomberg report.

Circle’s investors include some of the biggest names in finance such as Goldman Sachs, Fidelity, and BlackRock.