USDC issuer Circle is reportedly set to file its initial public offering (IPO) in April as part of the firm\u2019s plans to finally go public. The stablecoin issuer is allegedly already working with top financial institutions to achieve this move.<\/p>\n
Circle To File IPO In Late April<\/h2>\n
According to a Fortune report<\/a>, Circle is looking to file its IPO in late April, although the listing period remains uncertain. The report noted that when a company files to go public, its shares usually begin trading four weeks later, indicating that the listing could occur in May. However, there is also a scenario where the IPO process could drag on for months.<\/p>\n The stablecoin issuer is reportedly working with investment banks JPMorgan Chase and Citi to achieve its long-anticipated IPO. The firm had previously tried to go public in 2021 under a SPAC arrangement with a shell company.<\/p>\n The US SEC failed to sign off on this arrangement back then, and the company eventually scrapped these IPO plans by the end of 2022 when the crypto exchange FTX collapsed and the broader crypto market experienced a downturn.<\/p>\n Revelation about Circle\u2019s IPO plans comes just days after the stablecoin issuer partnered<\/a> with NYSE\u2019s parent company to explore USDC\u2019s use in traditional finance (TradFi). Meanwhile, the USDC stablecoin recently launched in Japan following approval from the country\u2019s regulator. Notably, USDC is the first and only global dollar stablecoin approved under Japan\u2019s stablecoin framework.<\/p>\n Circle will likely face less resistance for its IPO plans under the current SEC administration. Under acting Chair Mark Uyeda, the Commission has shown its willingness to work hand in hand with crypto firms, which was missing under Gary Gensler\u2019s administration.<\/p>\n US SEC Chair nominee Paul Atkins has also shown his willingness to change the approach that Gensler\u2019s administration adopted towards crypto firms. During his nomination hearing, the SEC Chair nominee promised to prioritize providing regulatory clarity<\/a> for the industry.<\/p>\nAn Easier Path Now For The Stablecoin Issuer<\/h2>\n
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