Stablecoin Issuer USDC Rallies for Exchange Debut

According to reports from Bloomberg, Cointelegraph and ForkLog, Circle Internet Financial – the issuer of the USDC stablecoin – has announced plans to go public on a stock exchange in early 2024.

According to the news sources, the company has begun talks with investment advisors that include Goldman Sachs, General Catalyst and BlackRock.

Discussions are ongoing, as no concrete roadmap has been presented yet that would indicate it is a complete certainty that Circle will become a public company in the U.S., despite the U.S. SEC’s hard stance on stablecoins as a category.

Ambiguity extends to the potential valuation Circle might seek through an IPO. However, the report highlighted that the USDC issuer was previously estimated at $9 billion. The figure was voiced during a 2022 attempt to merge with a special purpose acquisition company (SPAC), Concord Acquisition Corp.