Circle has officially filed for a traditional IPO, signaling its intent to bridge the gap between digital currencies and traditional, regulated financial systems.
Circle is transitioning from a privately held company to a publicly traded one by pursuing a traditional IPO. This step highlights the company’s commitment to greater transparency and regulatory compliance.
Backed by major financial institutions, the move reflects a broader effort to bridge the gap between the crypto space and established financial systems. If successful, it could reshape how stablecoins are viewed within the wider digital finance landscape.
Boston-based fintech company Circle, the issuer behind the USD Coin (USDC) stablecoin, submitted a Form S-1 with the U.S. Securities and Exchange Commission (SEC) last week—marking a major step forward in its journey to go public through a traditional IPO.
The company said it plans to list its Class A common stock on the New York Stock Exchange (NYSE) under the ticker symbol “CRCL.”
Details like the IPO’s pricing range are still under wraps. The timing of the launch will depend on regulatory approval and overall market conditions.
This is Circle’s second shot at going public, after a previous $9 billion SPAC deal fell through in 2022.
USDC’s Role in DeFi and Market Sentiment
USDC, Circle’s flagship stablecoin, holds the position of the second-largest stablecoin by market cap. It plays a major role in digital payments and the decentralized finance (DeFi) space.
Market analysts believe that a successful IPO could be a strong indicator of sentiment in the crypto space—especially at a time when regulators are taking a closer look at stablecoin issuers.
Circle Strengthens IPO Push With Big Bank Backing
To support its renewed IPO push, Circle has enlisted JPMorgan Chase and Citi as lead underwriters, according to a report from Fortune. A formal public filing is expected later in April.
Sources say the company is aiming for a valuation in the range of $4 billion to $5 billion.
If successful, this would be one of the most high-profile crypto-related public offerings since Coinbase went public back in 2021.
