Stablecoin issuer Circle is reportedly moving forward with long-awaited plans to go public, with sources indicating that the company will file for an initial public offering (IPO) later this month.
According to a report from Fortune, Circle is expected to submit its IPO paperwork by late April. If the process follows a typical timeline, its shares could begin trading as early as May. However, delays remain a possibility, and the listing could take months to finalize.
Circle is said to be working closely with major financial institutions, including JPMorgan Chase and Citi, to facilitate the offering. This marks the company’s second attempt at going public, following an unsuccessful SPAC merger in 2021. That effort was abandoned in late 2022, coinciding with the collapse of FTX and a broader downturn in the crypto market.
The news of Circle’s IPO filing comes shortly after the firm announced a partnership with the New York Stock Exchange’s parent company to explore USDC’s role in traditional finance. Additionally, Circle recently expanded its global reach by securing regulatory approval to launch USDC in Japan, making it the first dollar-backed stablecoin to gain approval under the country’s new framework.
Regulatory hurdles previously derailed Circle’s initial IPO ambitions, but the company may face fewer obstacles this time. The SEC, now under acting Chair Mark Uyeda, appears more open to working with crypto firms than under former Chair Gary Gensler. Additionally, SEC Chair nominee Paul Atkins has signaled a shift in approach, vowing to prioritize regulatory clarity for the crypto industry.
If successful, Circle’s IPO would be the most significant crypto-related public listing since Coinbase’s debut in 2021. Notably, Coinbase holds an equity stake in Circle, further linking the two firms.
The stablecoin sector continues to heat up, with increasing interest from traditional financial players. Tether’s USDT remains the market leader, but competition is growing as companies explore their own stablecoin offerings. Notably, Donald Trump’s World Liberty Financial is preparing to launch USD1, while Fidelity has also expressed interest in entering the stablecoin space.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/circle-prepares-for-public-debut-with-planned-ipo-filing-in-april/