Circle Internet Group announced that it has filed for an initial public offering (IPO) on the New York Stock Exchange (NYSE). The number of shares to be offered and the price range for the proposed offering have not yet been determined. According to CoinDesk, Circle could be valued between $4 billion to $5 billion. CoinDesk reported in July that the company was valued at roughly $5 billion in private secondary markets.
Circle is building a stablecoin network, and issues, through its regulated affiliates, USDC and EURC stablecoins. Circle provides financial and technology services for enterprises and developers to integrate stablecoins and blockchains into their products, services and business operations.
A number of banks were cited in a company statement in bookrunning and manager roles, among them: J.P. Morgan, Citigroup, Barclays, Deutsche Bank Securities, SG Americas Securities, BNY Capital Markets, Canaccord Genuity, and Santander.