Circle, the company behind the stablecoin USDC, has announced that it has submitted a confidential S-1 filing with the SEC to prepare for its entrance into the stock market. However, the company has not disclosed any further details, including its financial performance, business valuation, and the proposed stock price.
Currently, USDC is the second-largest stablecoin with a total market value of $25 billion, trailing behind Tether, which has a market value of approximately $9.5 billion.
Previously, Circle had plans to take the company public through a SPAC, but it later scrapped those plans due to the inability to execute them within the timeframe.
TLDR: Circle, the company behind USDC stablecoin, has filed a confidential S-1 with the SEC to prepare for its stock market debut. The details of the offering, including financials and stock price, have not been disclosed. USDC is the second-largest stablecoin with a market value of $25 billion. Circle had previously planned a SPAC listing but had to cancel due to timing constraints.
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