Circle considers IPO in 2024

Publisher Stablecoin Yuanhuan Internet Finance Co., Ltd. is considering an initial public offering (IPO) as early as 2024, As quoted by Bloomberg A source familiar with the matter.

This company released Stablecoin USDC The company is already in talks with advisers to prepare for a possible public listing next year, sources said. Discussions are in the early stages, and Circle has not yet made a final decision on whether to pursue an IPO.

Asked about IPO discussions, a Circle spokesperson said in a statement: “The long-term goal of becoming a U.S. public company has always been part of Circle’s strategic decision-making.” “We do not comment on rumors.”

If Circle decides to go public, it would be the latest example of cryptocurrency companies taking advantage of public markets amid strong investor interest in the industry. The sources did not specify how much Circle would be valued in the IPO, but the company was valued at $9 billion when it went public last year through a merger with another blank-check company.

The attempt to go public through a merger with Concord Acquisition Corp ultimately failed. Circle has raised funding from high-profile investors including Goldman Sachs, BlackRock and Fidelity Investments. The company was valued at $7.7 billion in a 2022 funding round, according to reports at the time.

Circle is known for its releases U.S. Department of Agriculture, the second largest stablecoin and popular token pegged to the U.S. dollar. The IPO will bring more transparency to the company behind this important digital asset.

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