Key Points:
- Circle has reportedly appointed JPMorgan and Citi to guide its forthcoming IPO, anticipated by late April, per Fortune.
- The issuer of the USDC stablecoin is aiming for a valuation of $4 billion to $5 billion, according to the report.
- Following a prior SPAC merger attempt in 2021, Circle’s current trajectory is supported by a more compliant regulatory environment.
Circle Internet Financial, known for its USDC stablecoin, has engaged investment banks JPMorgan Chase and Citi as underwriters for its planned IPO, as reported by Fortune.
While the exact timing remains in flux, sources indicate that Circle is expected to publicly file its prospectus by late April, hinting at a possible IPO before June.
Previously, the company had submitted confidential documents to the U.S. Securities and Exchange Commission (SEC) in January 2024.
Circle previously attempted to go public via a SPAC merger in 2021, but this plan was thwarted by an unyielding SEC and the crypto market downturn of 2022, ultimately leading to the cancellation of the SPAC deal by late 2022.
Reportedly, those familiar with the situation told Fortune that Circle is seeking a valuation between $4 billion and $5 billion.
Additionally, CoinDesk reported in July that the company’s valuation in private secondary markets was roughly $5 billion.
