Circle, a stablecoin company, is reportedly partnering with major American banks to prepare for an April IPO launch.
A new Fortune article states that Circle, a USDC issuer, is collaborating with JPMorgan Chase & Citi Bank in order to list its shares publicly next month.
Fortune cites “two people familiar with the matter” as a source for its report that Circle plans to submit the paperwork necessary for an IPO by the end of April.
Circle has filed for the traditional IPO at the U.S. Securities and Exchange Commission in January 2024. Circle filed for an IPO before, but its last attempt in 2022 was abandoned after the FTX collapse.
The report states that the impending IPO could be the largest crypto IPO ever since Coinbase first went public in 2020. Citi Bank and JPMorgan advised Coinbase prior to going public.
Circle officially issues USDC stablecoins, which are redeemable for US Dollars 1:1. USDC has the second largest stablecoin market capitalization, with more than $53 Billion. USDT is second, having a cap market of almost $140 Billion. USDT was issued by crypto company Tether.
Circle CEO Jeremy Allaire stated in December that US-dollar pegged stablecoins may become a major export of the US.
First and foremost, let’s focus on the competitiveness and strength of the dollar. There are many places around the globe that do not want to use the dollar as their reserve currency.
First, we’ll need digital dollars with full reserves, similar to stablecoins, to export in mass quantities from the United States. If there is to be an internet currency, it should also include a digital dollar …”
Please follow us at X@InvCryptoDaily
Subscribe for email alerts to avoid missing a beat
___________________
___________________
Images Can Be Found on Pixabay Creative Commons & Midjourney
The report JPMorgan Chase & Citi Partners With Stablecoin Issuer Circle For April IPO may change as new information becomes available.
This site is for entertainment only. Click here to read more
