USDC Issuer Circle Aims at $5.65 Billion Valuation in US IPO

Circle, the company behind the world’s second-largest stablecoin (USDC) is reportedly targeting a valuation of $5.65 billion in a US-based initial public offering (IPO).

According to Reuters, Circle will be issuing around 9.6 million shares, while some of its shareholders are looking to offload around 14.4 million shares, priced between $24 and $26 each, in a bid to raise $624 million.

Once the listing completes, Circle will be trading on the New York Stock Exchange (NYSE) carrying the CRCL ticker.

This story is developing. 

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