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Circle is planning to go public through an initial public offering (IPO) in collaboration with two major financial institutions, JPMorgan Chase and Citi. According to a report by Fortune, the company aims to submit its IPO paperwork in late April.
The proposed IPO would be one of the largest crypto offerings since Coinbase’s market debut on Nasdaq in 2021. Circle is seeking a valuation between $4 billion and $5 billion, making it a significant event in the crypto space.
This comes after Circle confidentially filed for an IPO earlier this year. The company had previously abandoned its IPO plans in 2022 due to unfavorable market conditions and regulatory scrutiny by the US Securities and Exchange Commission (SEC) under former Chair Gary Gensler.
Circle’s decision to work with JPMorgan Chase and Citi, two banks that also supported Coinbase’s public listing plan, indicates a renewed commitment to going public.
Source: https://cryptobriefing.com/circle-ipo-partners-jpmorgan-citi/
