Circle confidentially files for US IPO

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

article-image

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

share

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 Forward Guidance newsletter.

Get alpha directly in your inbox with the 0xResearch newsletter — market highlights, charts, degen trade ideas, governance updates, and more.

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

Tags

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 18 - 20, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

recent research

Unlocked Advisory-min.png

Research

This report distills Blockworks Advisory’s research on incentive programs and their analysis, offering a foundation for designing future initiatives and advancing industry-wide standards. By highlighting key lessons and methodologies, we aim to empower protocols to make informed, data-driven decisions.

article-image

Will investors take a 10% lower return to get access to a regulated investment wrapper?

article-image

Brian Armstrong called out the hire of Gurbir Grewal, who had been the SEC’s enforcement division director since 2021

article-image

Certain senators will be interested to learn about Atkins’s private sector business interests, specifically those related to crypto

article-image

Innovative smart debt and collateral features are fueling Fluid’s rise to $1.2 billion TVL, reshaping the Instadapp brand

article-image

Crypto’s liquidity engine is now worth over $300 billion

article-image

Bitcoin Jesus is arguing that the Department of Justice’s tax fraud charges are “unconstitutional”