{"id":10988,"date":"2023-11-08T08:15:54","date_gmt":"2023-11-08T08:15:54","guid":{"rendered":"https:\/\/infundpros.com\/markets\/crypto\/usdc-issuer-circle-internet-is-considering-ipo-in-2024\/"},"modified":"2023-11-08T08:15:55","modified_gmt":"2023-11-08T08:15:55","slug":"usdc-issuer-circle-internet-is-considering-ipo-in-2024","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=10988","title":{"rendered":"USDC Issuer Circle Internet is Considering IPO in 2024"},"content":{"rendered":"<div>\n<figure id=\"attachment_128368\" aria-describedby=\"caption-attachment-128368\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><noscript><\/noscript><figcaption id=\"caption-attachment-128368\" class=\"wp-caption-text\">Source: Circle Internet<\/figcaption><\/figure>\n<p>Circle Internet, the issuer of USD Coin stablecoin, is eyeing a potential initial public offering (IPO) in early 2024, according to Bloomberg.<\/p>\n<p>The company is currently in discussions with advisors to weigh the feasibility and timing of such a move to the public markets, as informed by undisclosed \u201cpeople wither knowledge of the matter\u201d. While details remain confidential, Circle\u2019s consideration of an IPO reflects its growth ambitions and strategic planning.<\/p>\n<p>A representative for Circle confirmed the company\u2019s longstanding goal to become publicly traded. \u201cBecoming a U.S.-listed public company has long been part of Circle\u2019s strategic aspirations. We don\u2019t comment on rumors,\u201d the representative responded.<\/p>\n<figure id=\"attachment_128371\" aria-describedby=\"caption-attachment-128371\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><noscript><\/noscript><figcaption id=\"caption-attachment-128371\" class=\"wp-caption-text\">Source: CoinMarketCap<\/figcaption><\/figure>\n<p>USDC currently has a market cap of $24.42 billion, ranked the sixth largest coin and the second largest stablecoin according to CoinMarketCap. Though Circle has not stated how much value it seeks in the IPO, its previous attempt to go public via a blank-check deal in 2022 was valued $9 billion.<\/p>\n<h2>Circle\u2019s SPAC Attempt and SVB Challenges<\/h2>\n<p><span class=\"replacer\"><\/span><br \/>In 2021, Circle agreed to a merger with a merger with Concord Acquisition Corp., a Special Purpose Acquisition Company (SPAC). But the merger eventually fell through. In 2022, Circle raised $400 million in a funding round from major financial institutions including Goldman Sachs, Blackrock, Fidelity, and others. The company was worth $7.7 billion ahead of the planned merger, according to Axios.<\/p>\n<p>Earlier this year, Circle revealed that it had $3.3 billion of its $40 billion USDC reserves at the collapsed Silicon Valley Bank. The company requested wire transfers prior to the collapse, but the transactions did not complete. The price of USDC dropped to an all-time low of around 0.8774, distant from its intended $1.<\/p>\n<p>Despite previous setbacks, Circle\u2019s ambition for a public listing remains persistent, although no definitive IPO plans have been confirmed as the company stays silent on recent speculations.<\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em><br \/>\n            Enter your email for our Free Daily Newsletter        <\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span>\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/usdc-issuer-circle-internet-is-considering-ipo-in-2024.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: Circle Internet Circle Internet, the issuer of USD Coin stablecoin, is eyeing a potential initial public offering (IPO) in early 2024,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":10989,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[28],"tags":[],"class_list":{"0":"post-10988","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crypto"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>USDC Issuer Circle Internet is Considering IPO in 2024 | inFundPros<\/title>\n<meta name=\"description\" content=\"Source: Circle Internet Circle Internet, the issuer of USD Coin stablecoin, is eyeing a potential initial public offering (IPO) in early 2024, according\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/infundpros.com\/?p=10988\" 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