Circle, the issuer of the USDC stablecoin, has filed documents to go public for the second time, previously unsuccessful in a 2022 SPAC merger attempt. For 2024, the company projected a revenue of $1.68 billion, a significant increase from the previous year's $1.45 billion, yet reported a drop in net income to $156 million from $268 million in 2023. The upcoming IPO seeks to raise $750 million, amid favorable crypto policies from the Trump administration, and shows a robust valuation of USDC in circulation at $60 billion.
Circle, the issuer of USDC, a stablecoin pegged to the U.S. dollar, filed to go public on Tuesday.
While it is not clear what value the company will fetch in its IPO, Renaissance Capital estimates that the company will attempt to raise $750 million in its offering.
Circle's 2024 net income was $156 million, down from $268 million in 2023.
This is Circle's second attempt at listing on the stock exchange, having previously tried to go public by combining with a SPAC in 2022.
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