Circle Internet Group, the issuer of USDC, has filed paperwork for an IPO to raise $624 million by offering 24 million shares, seeking a valuation of $6.71 billion. This filing comes on the back of increased interest in stablecoins, with USDC being the second-largest stablecoin after Tether. Stablecoins offer price stability as they are pegged to the U.S. dollar, unlike more volatile cryptocurrencies, making them attractive to investors. Circle's IPO plans follow their earlier attempts to go public through a SPAC, which were subsequently scrapped.
Circle Internet Group's IPO aims to raise up to $624 million, seeking a valuation of $6.71 billion, amid rising interest in stablecoins.
Stablecoins like USDC are designed to remain stable, pegged to assets such as the U.S. dollar, making them less volatile compared to cryptocurrencies like Bitcoin.
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