Circle preps for IPO with JPMorgan and Citi at the helm
Circle preps for IPO
Circle, the company behind the USDC stablecoin, is preparing to file for an initial public offering (IPO) in late April.
The company is reportedly working with top investment banks JPMorgan Chase and Citigroup to guide the process, marking a major step toward becoming the first stablecoin issuer to go public through a traditional IPO, according to Goingape.
If Circle files as planned, its shares could begin trading as early as May, although delays remain possible. The listing would be the most significant crypto-related IPO since Coinbase debuted on the Nasdaq in 2021. Notably, Coinbase holds an equity stake in Circle.
The IPO plan comes after a previously abandoned effort to go public via a SPAC merger in 2021. That attempt was halted after the Securities and Exchange Commission (SEC) declined to approve the deal, and Circle ultimately withdrew the proposal in late 2022 amid broader market turmoil following the collapse of FTX.
Regulatory shift opens door for crypto firms
Circle’s renewed IPO push coincides with a more open posture from the SEC under Acting Chair Mark Uyeda. Uyeda, who succeeded Gary Gensler, has signaled a more cooperative stance toward digital asset firms. SEC Chair nominee Paul Atkins has also expressed support for increased regulatory clarity for crypto markets.
Circle’s flagship product, USDC, is currently the second-largest stablecoin by market capitalization after Tether’s USDT. The company has recently expanded internationally, launching USDC in Japan following regulatory approval.
As traditional finance firms like Fidelity and Donald Trump’s World Liberty Financial explore their own stablecoins, Circle’s IPO could position it as a key player in the next phase of digital finance.
Also, Circle recently has contributed $1 million in USDC to President Donald Trump’s inaugural committee. CEO Jeremy Allaire highlighted the milestone as a testament to the growing acceptance and potential of digital dollars.
