Circle, the issuer of the USDC stablecoin, is aiming for a fully diluted valuation of up to $7.2 billion in its upcoming initial public offering, according to a Monday filing with the Securities and Exchange Commission (SEC).
The company now plans to offer up to 32 million shares priced between $27 and $28 each, up from 24 million shares at $24 to $26 when it first filed in May. The move suggests investor interest in Circle’s business is growing, and possibly heating up faster than expected.
📖 Related Reading
- 📰 Polygon NFTs hit $2B sales milestone as network defies downturn
- 📰 Classover Taps $500M Convertible Note Deal to Boost Solana Treasury Strategy
That interest appears to be coming from some of the world’s most influential investors. In May, it was reported that BlackRock, the world’s largest asset manager, is considering purchasing up to 10% of Circle’s IPO shares, according to people familiar with the matter. Ark Invest, the investment firm led by Cathie Wood, has also signaled intent to buy $150 million worth of stock.
Circle’s IPO comes as stablecoins are having a moment in the broader crypto market. Once considered niche instruments mostly used for crypto trading, they are now widely integrated into decentralized finance (DeFi), remittances and even traditional finance rails.
The total market cap of all stablecoins now stands at $248 billion, with Tether’s USDT making up 62% of the market at $154 billion, followed by Circle’s USDC at $60 billion, according to DeFiLlama.
📖 Related Reading
- 📰 Here’s what happened in crypto today
- 📰 $302 Million Lost to Crypto Scams, Hacks, and Exploits in May: CertiK
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s fullAI Policy.
📖 Related Reading
- 📰 Here’s what happened in crypto today
- 📰 $302 Million Lost to Crypto Scams, Hacks, and Exploits in May: CertiK
🔗 You Might Also Be Interested In
Polygon NFTs hit $2B sales milestone as network defies downturn
Classover Taps $500M Convertible Note Deal to Boost Solana Treasury Strategy
📖 Related Reading
- 📰 Here’s what happened in crypto today
- 📰 $302 Million Lost to Crypto Scams, Hacks, and Exploits in May: CertiK
CFTC’s Goldsmith Romero says commissioner exodus ‘not a great situation’
💡 Stay updated with the latest cryptocurrency news and insights by following our website! 🔔 Bookmark this site to get first-hand blockchain and digital currency news!
🔗 You Might Also Be Interested In
Here’s what happened in crypto today
$302 Million Lost to Crypto Scams, Hacks, and Exploits in May: CertiK
Ripple’s Stablecoin, RLUSD, Gets Stamp of Approval in Dubai
💡 Stay updated with the latest cryptocurrency news and insights by following our website! 🔔 Bookmark this site to get first-hand blockchain and digital currency news!
🔗 You Might Also Be Interested In
Here’s what happened in crypto today
$302 Million Lost to Crypto Scams, Hacks, and Exploits in May: CertiK
Ripple’s Stablecoin, RLUSD, Gets Stamp of Approval in Dubai
💡 Stay updated with the latest cryptocurrency news and insights by following our website! 🔔 Bookmark this site to get first-hand blockchain and digital currency news!
🔗 You Might Also Be Interested In
Here’s what happened in crypto today
$302 Million Lost to Crypto Scams, Hacks, and Exploits in May: CertiK
Ripple’s Stablecoin, RLUSD, Gets Stamp of Approval in Dubai
💡 Stay updated with the latest cryptocurrency news and insights by following our website! 🔔 Bookmark this site to get first-hand blockchain and digital currency news!