News reports on Wednesday indicated that Circle, a leading company in the field of digital currencies, has filed for an initial public offering (IPO) on the New York Stock Exchange, with plans to list its shares on the U.S. financial market. The prospectus has been submitted to the U.S. Securities and Exchange Commission, paving the way for the company's entry into public markets in a long-awaited move.
JPMorgan Chase and Citigroup are acting as lead underwriters for the offering, with reports suggesting that Circle aims to value the company at $5 billion. According to available information, the company's shares will be traded under the ticker symbol (CRCL) on the U.S. stock exchange.
This is the second attempt by Circle for a public offering, following a previous unsuccessful attempt, making this step significant in Circle's journey to enhance its standing in the American stock markets. If the IPO is successful, Circle will become one of the prominent companies in the digital currency sector to be listed on the U.S. stock exchange.
It is worth noting that Circle is well-known as the issuer of the U.S. Dollar Coin (USDC), which is the second-largest stablecoin in the world by market capitalization. The currency is pegged to the U.S. dollar at a one-to-one ratio and is backed by cash reserves and short-term treasury bonds. Around $60 billion worth of USDC is in circulation, reflecting the high level of confidence in this stablecoin, which enjoys widespread popularity in the digital currency markets.
