USDC Stablecoin’s Circle Founder Files for IPO in a Confidential Manner

Circle USDC, a web3 service provider for the financial system, has taken a significant leap towards becoming a publicly traded company by filing for an initial public offering (IPO). The company has submitted a draft S-1 document to the U.S. Securities and Exchange Commission (SEC), setting the stage for a potential IPO in the future.

Details regarding the number of shares to be sold and their price range have not been disclosed at this time. However, this move comes as Circle continues to experience remarkable growth, with USDC’s market capitalization currently surpassing $25 billion.

The decision to file for an IPO follows the footsteps of Apex Fintech, a clearing firm, which confidentially filed for a U.S. IPO in December 2021. Furthermore, Apollo-owned Aspen Insurance has revealed its intention to explore a public offering in 2024. Investors should closely monitor these developments, as they could indicate a potential increase in IPO activity in the upcoming months.

According to data from CoinGecko, the current value of USDC stands at nearly $25 billion. However, it reached a peak of $56 billion in mid-2022 before experiencing a sudden drop in price, attributed to investors exercising caution in their investment decisions.

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