Circle, the issuer of the USD Coin (USDC), is reportedly considering an initial public offering (IPO) in early 2024, according to Bloomberg. While the stablecoin issuer has been in talks with advisers about the move, there is no certainty that it will result in a public listing. Circle had previously agreed to go public through a $4.5 billion merger with Concord Acquisition in July 2021, but that deal fell through. Circle has expressed its long-standing aspiration to become a U.S.-listed public company. However, the company has remained tight-lipped about the details and declined to comment on the rumors. If the IPO goes ahead, it would mark the first time that Circle, which has received investments from financial services firms such as BlackRock, Fidelity Management, Goldman Sachs, General Catalyst Partners, and Marshall Wace, publicly offers shares. The market cap of USDC has seen a significant decline, falling 56% from its peak of $55.9 billion in June 2022 to $24.6 billion. In March, USDC temporarily depegged from the U.S. dollar due to its exposure to the now-collapsed Silicon Valley Bank. It later recovered and returned to its pegged value.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	neutral
Relevance Score	1
People	None
Companies	Fidelity Management, BlackRock, Concord Acquisition, Circle, Goldman Sachs
Currencies	US Dollar, USDC
Securities	None