USDC Issuer Circle Filed for IPO in the U.S.

The stablecoin USDC issuer, Circle Internet Financial, has filed for an initial public offering (IPO) in the U.S., while the proposed price range of its IPO filing or the number of shares that it planned to sell is not disclosed.

The company expects the IPO to proceed after the U.S. Securities and Exchange Commission completes the review process, adding that this is still subject to market conditions.

Founded in 2013, Circle is best known as the issuer of USD Coin, the world’s second-biggest U.S. dollar pegged stablecoin, which was launched in 2018. USDC has a market capitalization of more than $25.2 billion. Tether is its biggest stablecoin rival with a collective value of more than $94.6 billion.