The year seems to have started with a bang for the cryptocurrency market. A day after the U.S. Securities and Exchanges Commission approved spot Bitcoin ETFs, Circle, a major stablecoin issuer, has filed for an initial public offering. According to ReutersCircle has confirmed that it has confidently filed for an initial public offering, in line with its plan to become a publicly traded company.
It is striking that the company has been planning to go public for some time now. Reports that this would come to fruition in 2024 emerged towards the end of 2023. A then report from Bloomberg stated that the stablecoin issuer had managed to attract Goldman Sachs, General Catalyst and Blackrock as backers.
The number of shares that would be sold and the price range for the new IPO filing still remain unclear. Nevertheless, if this IPO passes the SEC’s review, it will become the second major crypto player to launch an IPO. The first crypto company to make headlines under the same topic was Coinbase, a leading American crypto exchange.
The story is still developing.