Circle, the publisher of USDC, is a stablecoin pinned to US dollars submitted for publication on Tuesday.
The company reported that its earned money from interest earned on its reserve assets, with revenues and reserves in 2024 at $1.68 billion, up from $1.45 billion the previous year. Circle's net income in 2024 was $156 million, up from $268 million in 2023.
This is the second attempt by a circle to be listed on the stock exchange. The company previously tried to make public in 2022 in conjunction with SPAC, but it abolished the plan when the SEC did not approve the merger within the expected time frame. Before failing, SPAC valued a $9 billion circle.
It is not clear what value the company will acquire in its IPO, but Renaissance Capital estimates the company will seek to raise $750 million from its services.
Investors with a company ownership of 5% or more include Accel, General Catalyst, Breyer, IDG Capital, and Oak Investment Partners, according to regulatory filings.
According to filing, Circle USDC in circulation is valued at $60 billion.
The company plans an IPO amid the Trump administration's supportive stance on crypto assets.