Circle USDC and web3 service provider for the financial system has taken a significant step towards going public by filing for IPO. The company has filed a draft S-1 document with the U.S. Securities and Exchange Commission (SEC), paving the way for a potential initial public offering (IPO).
The exact number of shares to be sold and their price range have not been disclosed at this time. The move comes as Circle continues to experience rapid growth, with USDC’s market capitalization currently exceeding $25 billion.
Reason Behind the Move
This move comes after Apex Fintech, a clearing firm, confidentially filed for a U.S. IPO in December 2021. Additionally, Apollo-owned Aspen Insurance has announced its intention to consider a public offering in 2024. Investors should closely monitor these developments as they could indicate a potential uptick in IPO activity in the coming months.
