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USDC Stablecoin Issuer Circle Confidentially Files For IPO

Circle Internet Financial – the issuer of the world’s second-largest stablecoin, USD Coin (USDC) – has quietly filed for an initial public offering (IPO) with federal regulators. Their IPO registration follows a series of historic approvals by the Securities and Exchange Commission (SEC) on Wednesday, allowing Bitcoin (BTC) spot ETF products to trade on national securities exchanges. Circle has not yet determined how many shares will sold, nor the price range of its offering. A stablecoin is a crypto token backed by an asset of relatively stable value, such as the US dollar. Circle’s dollar-pegged USDC token boasts a $25 billion market cap, only outclassed in the stablecoin realm by Tether’s USDT token, worth $94 billion.

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