Circle Web Monetary, the issuer of the USDC stablecoin, has reportedly employed funding banks JPMorgan Chase and Citi because the underwriters of a hoped-for IPO, Fortune reported.
Whereas timing will not be but completely determined, sources say Circle will publicly file its prospectus in late April, which means a possible IPO maybe previous to June.
The corporate had beforehand filed confidential paperwork with the U.S. Securities and Trade Fee (SEC) in January 2024.
Circle in 2021 had tried to go public by way of a SPAC merger in 2021, however that try was derailed first by an intransigent SEC after which by the crypto collapse of 2022. It in the end pulled the SPAC deal by the tip 2022.
In accordance with individuals conversant in the matter that spoke with Fortune, Circle is looking for a $4 billion to $5 billion valuation.
CoinDesk reported in July that the corporate was valued at roughly $5 billion in non-public secondary markets.
