IPO of Circle announced: Stablecoin giant wants to Wall Street

The bullet is through the church: Circle Internet Group, the company behind the second largest Stablecoin USDC, has announced that it will request a stock exchange listing on the New York Stock Exchange (NYSE). With this step, Circle is taking an important step towards further professionalization and transparency within the crypto industry.

Circle offers 24 million shares

The IPO includes an offer of 24 million class A shares. Of these, 9.6 million shares will be issued by Circle itself. The remaining 14.4 million come from existing shareholders. The expected price per share is between $ 24 and 26. This means that the Circle Public Prosecution Service could possibly yield more than 600 million dollars, depending on the final price.

The shares will be traded under the Ticker CRCL. Great financial players such as JP Morgan, Citigroup and Goldman Sachs are involved as active accountants in this IPO.

Circle is best known as the publisher of the Stablecoin USD Coin (USDC), which is linked to the US dollar and is widely used in the crypto ecosystem. With this IPO, Circle is more emphatically forward as a serious financial player. The company seems to want to benefit from the increasing institutional interest in crypto-related products. The stock exchange listing could also give Circle more access to capital, which is crucial in a market where competition from other stablecoins, such as Tether’s USDT, is large.

Completion

Although the application for the IPO has been officially submitted, we still have to wait and see whether the IPO is actually approved and continued. As with every IPO, here too, the final timing and conditions can change depending on the market conditions and approval by supervisors.

Although there was already a lot of speculation about a possible IPO, there were also negotiations about a takeover with Ripple and Coinbase. Ripple (XRP) would even have released a $ 11 billion megabod on Circle. In the meantime, serious conversations with the Coinbase Crypto fair were also ongoing. Circle now seems to have made the decision and still continue with the initial plans for an IPO. With this step, Circle is taking a new and ambitious step in its growth strategy, at a time when the role of stablecoins in the worldwide economy is becoming increasingly important.