TechFlow news, on July 30, according to CoinDesk, three sources familiar with the matter revealed that shares of Circle Internet Financial are trading in the secondary market at prices implying a valuation of $5 billion to $5.25 billion ahead of the stablecoin issuer's planned initial public offering (IPO). The company, which issues the stablecoin USDC, previously aimed for a $9 billion valuation in 2022 when it attempted to go public through a merger with Concord Acquisition Corp.
Currently, Circle permits share transactions under specific circumstances, primarily allowing early investors and company employees to sell; employees often have opportunities to monetize their stock options before an IPO. The company prohibits trades below a $5 billion valuation. Circle first filed for a public listing in January this year, submitting a confidential S-1 form to the U.S. Securities and Exchange Commission (SEC), though the number of shares to be issued and price range have not yet been determined. The company plans to establish the United States as its new legal domicile, a transition expected to be completed prior to the IPO.
