The stablecoin USDC issuer Circle is considering an IPO in the US next year.

According to informed sources, Circle Internet Financial Ltd., the issuer of the stablecoin USDC, is considering going public in the United States in early 2024. The sources state that the company is in talks with advisors to prepare for a potential initial public offering (IPO). The source added that the deliberations are still ongoing, and it is uncertain whether Circle will decide to go public. Although it is currently unclear how much valuation Circle is seeking through the IPO, the company had a valuation of $9 billion when it attempted to go public through a SPAC in 2022. A representative from Circle said in a statement, "Becoming a publicly listed company in the United States has long been a part of Circle's strategic goals. We do not comment on rumors." It is known that Circle terminated its planned merger with Concord Acquisition Corp. last year, which was a blank-check company led by former Barclays Bank CEO Bob Diamond. Currently, Circle has raised funds from investors such as Goldman Sachs, General Catalyst Partners, BlackRock, Fidelity Management and Research LLC, and Marshall Wace LLP. According to reports, the company was valued at $7.7 billion in a funding round in 2022. Circle issues one of the largest stablecoins in the world, USDC, which is a cryptocurrency token tied to assets such as the US dollar and is primarily used by traders to transfer digital assets between exchanges. Earlier this year, Circle revealed that it had a $3.3 billion exposure to the collapsed Silicon Valley Bank (SIVBQ.US), which briefly caused a depreciation in USDC. In August, it was reported that the company plans to continue providing public financial reports and has hired Deloitte as its auditor.