Circle, the issuer of the USD Coin (USDC) stablecoin, is reportedly considering an initial public offering (IPO) next year. The company has initiated discussions with advisors to facilitate the IPO process. While the exact valuation Circle is aiming for remains undisclosed, it is worth noting that the company had a $9 billion valuation during its previous attempt to go public. Circle has expressed its aspiration to become a public company in the U.S. However, the company has not provided any additional information or commented on the rumors. Circle had previously planned to go public through a merger with a Special Purpose Acquisition Company (SPAC) named Concord Acquisition Corp., but the arrangement fell through in December 2022. Circle has received investments from prominent institutions such as Goldman Sachs, General Catalyst, BlackRock, Fidelity Management, and Marshall Wace. USDC’s market dominance has reached its lowest level since 2021, currently standing at 18.96%. The stablecoin’s market capitalization has declined to under $25 billion from over $50 billion. This decline began when USDC faced challenges after its exposure to the U.S. banking crisis came to light. Circle disclosed that it held some of its USDC reserves at Silicon Valley Bank, which subsequently failed. This led to a brief depegging of USDC, with its value dropping to $0.87 before rebounding. While the market situation has improved since then, USDC’s supply continues to fall.

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Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	1
People	None
Companies	General Catalyst, Fidelity Management, Silicon Valley Bank, BlackRock, Circle, Goldman Sachs, Ripple, Concord Acquisition Corp., DeFillama, Marshall Wace, Bloomberg
Currencies	ImmutableX, US Dollar, USDC
Securities	None