Circle, the company behind the world’s second-largest stablecoin (USDC), is setting its sights on a valuation of $5.65 billion through a forthcoming initial public offering (IPO) in the United States. This move marks a significant step for the company as it prepares to navigate the complexities of the public market.
According to reports from Reuters, Circle plans to issue approximately 9.6 million shares, while existing shareholders are looking to sell around 14.4 million shares. The shares are expected to be priced between $24 and $26 apiece, aiming to raise a total of $624 million. This substantial influx of capital will likely provide Circle with the necessary resources to further innovate and expand its services within the rapidly evolving cryptocurrency landscape.
Once the IPO is finalized, Circle will be listed on the New York Stock Exchange (NYSE), trading under the ticker symbol CRCL. As the cryptocurrency market continues to mature, Circle’s entry into the public domain could set a precedent for other companies within the space, paving the way towards greater institutional adoption and acceptance of digital assets.
This story is developing.
For more detailed insights, you can read the full article here. This piece originally appeared on CryptoPotato.
