Circle, the issuer of the USDC stablecoin, is looking to achieve a fully diluted valuation of up to $7.2 billion through its forthcoming initial public offering (IPO). This information was disclosed in a filing with the Securities and Exchange Commission (SEC).

Key Points:

• Circle aims to offer up to 32 million shares priced between $27 and $28 each, a rise from the previous proposal of 24 million shares valued at $24 to $26.
• There is significant interest from major investors, with BlackRock contemplating acquiring up to 10% of Circle’s IPO shares and Ark Invest showing intent to invest $150 million in stock.
• The total market capitalization of stablecoins has reached $248 billion, with Circle’s USDC following Tether’s USDT closely.

The planned IPO reflects an increasing interest in Circle’s business offerings, which are gaining traction in wider markets including decentralized finance (DeFi) and traditional financial systems.