[Circle considers IPO in 2024]
Circle, the USDC stablecoin issuer with a market capitalization of more than $24 billion, is considering an IPO in 2024, according to a Bloomberg report.
The company is in discussions with advisers to explore plans for a potential IPO, with Bloomberg citing anonymous sources as saying: "While it is unclear what valuation Circle will seek in an IPO, according to reports, when the company When it attempts an IPO via a blank check deal in 2022, it's valued at $9 billion."
In 2021, Circle agreed to conduct an initial public offering through a merger with a special purpose acquisition company (SPAC) called Concord Acquisition Corp., but the arrangement slowly lost its effectiveness. A Circle representative told Bloomberg: "Becoming a U.S. public company has always been one of Circle's strategic goals. We do not comment on rumors."
Circle’s investors include financial giants such as Goldman Sachs, Fidelity and BlackRock. The USDC stablecoin once had a market capitalization of nearly $56 billion, but since June 2022, its market capitalization has begun to decline dramatically.
