Circle, the exporter of the USDC Stablecoin, applied for the public offering (IPO). The company presented a prospectus to the US Securities and Stock Exchange Commission (SEC) to be traded under the “CRCL” symbol at the New York Stock Exchange. This move took place at a time when the US government began to approach crypto currency and blockchain technologies more positively.
Circle entered the public offering process
Circle’s process of opening the public was a long -awaited development. The company first planned to enter the stock market by merging with a special purpose purchasing company (Spac) in 2021. However, this initiative was canceled due to regulatory concerns and timing problems with the SEC.
After that, Circle took various steps to become a more important player in the global financial system. In this respect, the company moved its headquarters from Boston to One World Trade Center in New York. In 2024, he submitted a draft record declaration to SEC for the public offering. In the event of IPO, Circle will provide access to funds as a public company and offer investors the opportunity to invest in a fundamental company in the crypto currency sector.
Financial performance and public offering value
Circle, as of 2024, reported a major increase in revenues. The total income of the company rose to $ 1.45 billion in 2023 and rose to $ 1.68 billion in 2024. Most of this income was obtained from Stablecoin reserve revenues. However, the net income decreased in 2023 to $ 156 million in 2024, while in 2023.
The public offering is expected to make Circle a value of $ 4 to 5 billion dollars. JPMorgan Chase and Citigroup will be the main guarantors of IPO. Circle’s Stablecoin USDC is one of the largest and most popular stablecoins in the crypto money market with a market value of about $ 60 billion.
Change in regulatory environment and crypto currency laws
Circle’s IPO decision is also considered as a reflection of the change in the view of crypto currency regulations in the United States. The Donald Trump administration adopts a more positive approach to crypto currencies and tries to make the industry regulations more favorable. This offers companies such as Circle to operate in a safer regulatory environment.
Analysts foresee that US authorities can bring laws regulating Stablecoins in 2024. Such an arrangement can further strengthen Circle’s market position. In addition, the company increases its cooperation by sharing USDC revenues with exchanges such as Coinbase.
On the other hand, Circle is not the only crypto company with public offering plans. Another important player in the Blockchain industry is said to evaluate the opening of the stock market. Despite the regulatory struggles with SEC, Ripple draws attention with its strong position, especially in cross -border payments. This increases the likelihood that the company will follow Circle’s footsteps.
