Circle Initiates Confidential Filing for IPO in the US

Circle Internet Financial, the custodian of the USDC stablecoin, has filed for an initial public offering (IPO) in the United States. The Boston-based company aims to become a publicly traded entity, with the timing of the IPO dependent on the Securities and Exchange Commission’s review process and market conditions. Circle’s USDC stablecoin is the second-largest in the market, pegged to the U.S. dollar and known for its stability in the volatile crypto landscape. The company’s decision to pursue an IPO follows the retraction of its previous plan to go public through a special-purpose acquisition company in 2022, valued at $9 billion. The move reflects Circle’s commitment to a public listing despite challenges and uncertainties in the current financial climate. (Source: Coinedition)