- Circle’s IPO Filing:
- Fintech firm Circle has confidentially filed with the US Securities and Exchange Commission (SEC) for an initial public offering (IPO).
- Submission of Draft Registration:
- Circle, the issuer of the USDC stablecoin, has submitted a draft registration statement on Form S-1 with the SEC for its IPO.
- Massachusetts-Headquartered Company:
- The Massachusetts-headquartered company’s IPO is expected to commence once the SEC’s review process is complete.
- Previous IPO Attempt:
- Circle’s current IPO filing marks its second attempt at going public. The company had initially planned an IPO in 2022 via a merger with special purpose acquisition company Concord Acquisition Corp, but the SEC failed to approve the deal before the deadline, leading to its cancellation in December of that year.
- Details of IPO:
- The filing does not disclose the price point of Circle’s IPO or the number of shares it plans to offer.
- Changing Landscape in Crypto Industry:
- The renewed effort for an IPO comes amid changing dynamics in the US cryptocurrency industry, notably with the SEC’s approval of Bitcoin-based exchange-traded funds (ETFs) in the country.
- Coinbase’s Stake in Circle:
- Cryptocurrency exchange Coinbase, which acquired a minority stake in Circle in August, reported a surge of almost 400% in its value in 2023 and expanded its services into Canada.
- Recent Regulatory Approval in France:
- Circle recently secured a conditional Digital Asset Service Provider (DASP) registration from the French Financial Markets Authority (AMF), marking the beginning of its operations in France. The company aims to become a licensed payment service provider (PSP) in the country.
1 min.Read
Circle gears up for second attempt at IPO with new SEC filing
Hot this week
Blogs
Banking as a Service: Meaning, Examples, Benefits and Future
The push for open banking has led to a...
Blogs
Best fintech blogs and websites
Fintech (financial technology) has been an interesting part of...
Blogs
Is it worth investing in life insurance over 60?
Is it worth investing in life insurance over 60?
As...
Topics
Banking
Lithuania’s Finbee Verslui lands €35m investment from Pollen Street Capital
Key Points:Investment Details:Finbee Verslui has secured a...
Banking
Morgan Stanley buys stake in UK business payments start-up Sokin
Key Points:Acquisition Details:Morgan Stanley has acquired a...
Banking
New wealthtech start-up Waltz launches US real estate investment platform
Key Points:Launch Objective:Enable foreign investors to invest...
Banking
HSBC India partners with Open Financial Technologies to launch FinConnect for business clients
Key Points:Partnership Objective:Simplify payment processes for HSBC's...
Banking
FCA issues new guidelines to ensure cash access for consumers and small enterprises
Key Points:Objective:Ensure "reasonable access" to cash deposit...
Banking
Social trading app Shares set to exit UK market
Key Points:Market Exit:Shares is set to exit...
Banking
UniCredit set to acquire Aion Bank and BaaS provider Vodeno for €370 million
Key Points:Acquisition Agreement:UniCredit has signed a binding...
Banking
Kenya’s Diamond Trust Bank taps Network International for digital payment solutions
Summary of Diamond Trust Bank (DTB) and Network International...