The American company Circle, an issuer of the second most popular USDC with a market capitalization of $ 60 billion, sent a notification to the first public promotion of shares (IPO) to the securities and US exchanges. In the application, information for potential investors is disclosed.

For IPO, Circle attracted JPMorgan Chase, Citigroup, Barclays, Deutsche Bank and SG Americas as underwriters. The exact parameters of the IPO, including the number of shares and the target price, are not specified in the application. In the case of the approval of the SEC, the shares will be traded on the New York Stock Exchange under the CRCL symbol.

This is the second attempt by Circle to enter the US stock market after an unsuccessful merger via Spac in 2021 and submitting a shares registration project in January 2024.

The assessment of the capitalization of the company in private secondary markets reaches $ 5 billion, although in 2022, when trying to enter the exchange through the Spac, it was estimated at $ 9 billion.

According to Circle, by the end of 2024, reserve assets that ensure the liquidity of USDC stabilcoins brought income about $ 1.7 billion, which amounted to 99.1% of the total revenue of the company. In recent years, financial indicators have demonstrated volatility: a net loss of $ 768.8 million in 2022 was replaced by a profit of $ 267.6 million in 2023, and in 2024, net profit amounted to $ 155.7 million. At the end of the last year, the company’s liquidity was estimated at $ 1.05 billion, including $ 751 million in funds and their funds and them equivalents.

Earlier, the Dubai Financial Services Department approved Circle Stableco – USDC and EURC – as official crypto acts of the International Financial Center of Dubai (DIFC).