Stablecoin powerhouse Circle is heading to Wall Street, confirming its intention to go public on the New York Stock Exchange amid rising speculation of acquisition talks.
Circle Internet Financial, the issuer of the USDC stablecoin and the second-largest stablecoin provider in the world, has officially filed for an Initial Public Offering (IPO) on the New York Stock Exchange (NYSE). The company will trade under the ticker symbol “CRCL,” marking a major milestone in its journey toward becoming a publicly traded firm in the United States.
According to filings, Circle plans to offer 24 million Class A common shares, with 9.6 million shares offered directly by the company and 14.4 million shares by existing stockholders. The IPO is expected to be priced between $24.00 and $26.00 per share, potentially valuing the offering at $250 million for Circle and $375 million for selling shareholders.
Not for Sale: Circle Rejects Ripple and Coinbase Acquisition Rumors
The IPO filing effectively quashes ongoing rumors of a potential buyout by Ripple Labs or Coinbase. Earlier speculation suggested Circle was entertaining a $5 billion acquisition offer from Ripple, a move that could have turned the XRP issuer into a digital bank, according to pro-XRP attorney John E. Deaton.
However, Circle has categorically denied these claims, stating that it is not for sale and remains fully focused on its public listing. Insiders indicated that the Ripple offer was considered too low, and Circle is confident in its strong financial position and independent business model.
Also Read: Worldcoin Adds Circle’s USDC and CCTP V2 to Power Global Transfers, WLD Price Poised to Rally
IPO Marks New Chapter After Prior Setbacks
This IPO marks Circle’s second major attempt at going public. A previous effort in 2022 via SPAC merger with Concord Acquisition fell through due to regulatory delays and unfavorable market conditions during the crypto winter.
Having filed a draft registration with the SEC in January 2024, Circle’s latest IPO attempt is significantly further along. While the offering remains subject to market conditions, it signals growing maturity and investor interest in crypto-native companies entering traditional financial markets.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
