Circle confidentially files for US IPO

Stablecoin issuer Circle is once again looking to go public, this time through an IPO.


Circle CEO Jeremy Allaire | Eóin Noonan for MoneyConf (CC license)


Circle is looking to go public in the US.

The company announced that it had filed the draft registration statement for an initial public offering in the US in a press release. 

Circle, in the release, said the IPO is “expected to take place after the Securities and Exchange Commission completes its review process, subject to market and other conditions.”

“The number of shares to be offered and the price range for the proposed offering have not yet been determined,” the press release continued. Reuters first reported the news.

Back in November of last year, Bloomberg reported that the company behind the USDC stablecoin was interested in pursuing an IPO. The media outlet cited unnamed sources at the time. 

This isn’t the first time that Circle’s sought or expressed interest in taking its company public on the US markets. The company previously sought to go public through a special purpose acquisitions company, another route to becoming public that was briefly popular throughout 2020 and 2021.

However, the company abandoned its plans after the collapse of FTX in November 2022.

Read more: Circle’s public listing plans undeterred by latest SEC actions

“We are disappointed the proposed transaction timed out, however, becoming a public company remains part of Circle’s core strategy to enhance trust and transparency, which has never been more important,” CEO Jeremy Allaire said at the time. 

In August, the company announced that Coinbase would take a stake in Circle. 

Coinbase also committed to the “long term success of UDC,” with Circle controlling the issuance and governance of the stablecoin. 

USDC is the second-largest stablecoin by supply, with $25.2 billion to Tether’s $94.6 billion.

Updated Jan. 11, 2024 at 8:42 am ET: Added context.

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the On the Margin newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.


Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2024

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research



Aerodrome is a "MetaDEX" that combines elements of various DEX primitives such as Uniswap V2 and V3, Curve, Convex, and Votium. Since its launch on Base, it has become the largest protocol by TVL with more than $495M in value locked, doubling Uniswap's Base deployment.


And a look into the newest name on the Trump ticket: Sen. JD Vance


Plus, Imran Khan’s intriguing experiment on the speeds of crypto onramps


The SEC has signaled a timeline to issuers that could lead to a July 23 launch for the ETH funds, people close to the process told Blockworks


PayPal has unequivocally made a name for itself as a crypto adopter among fintech giants


Also, a look into how the highly-debated SAB 121 could end up shaking out for crypto custodians


Vance, an Ohio Republican, is largely seen as crypto-friendly