Circle, known for issuing the USDC stablecoin, is aiming for a fully diluted valuation of up to $7.2 billion in its upcoming initial public offering (IPO), as detailed in a recent filing with the Securities and Exchange Commission (SEC). The company plans to offer up to 32 million shares priced between $27 and $28 each, an increase from its previous plan of 24 million shares priced at $24 to $26 per share.
This adjustment indicates a growing investor interest in Circle, evidenced by significant interest from notable financial players. BlackRock, the largest asset management firm globally, is reportedly contemplating acquiring a stake of up to 10% in Circle’s IPO shares. Investment firm Ark Invest, led by Cathie Wood, has expressed intentions to invest $150 million into the IPO.
The timing of Circle’s IPO aligns with an upward trend in the stablecoin sector, which has seen increasing integration within decentralized finance (DeFi) and traditional finance sectors. Currently, the market cap for all stablecoins reaches $248 billion, with Tether's USDT dominating at a 62% share. Circle's USDC stands at a substantial $60 billion, showing its significance in the crypto ecosystem.
This adjustment indicates a growing investor interest in Circle, evidenced by significant interest from notable financial players. BlackRock, the largest asset management firm globally, is reportedly contemplating acquiring a stake of up to 10% in Circle’s IPO shares. Investment firm Ark Invest, led by Cathie Wood, has expressed intentions to invest $150 million into the IPO.
The timing of Circle’s IPO aligns with an upward trend in the stablecoin sector, which has seen increasing integration within decentralized finance (DeFi) and traditional finance sectors. Currently, the market cap for all stablecoins reaches $248 billion, with Tether's USDT dominating at a 62% share. Circle's USDC stands at a substantial $60 billion, showing its significance in the crypto ecosystem.
