USDC issuer Circle wants to become a publicly traded company in the United States.
In a new announcement, the stablecoin company said it has filed a draft registration statement with the Securities and Exchange Commission (SEC) in connection with its proposed initial public offering (IPO) of equity securities.
Circle notes that it has not decided how many shares it will offer or the price range for those shares. The company said it expects the IPO to take place after the SEC completes its review process.
USDC, the second largest stablecoin by market capitalization, aims to maintain a 1:1 peg with the US dollar. The digital asset completed a new upgrade on Thursday designed to reduce gas fees, improve account abstraction support, and increase security for transactions on the Ethereum Virtual Machine (EVM) blockchain.
Circle and Coinbase co-founded USDC in 2018 and jointly managed assets through the Center Consortium until last year.
Last August, Circle CEO Jeremy Allaire announced that he would bring all of USDC’s governance and operational responsibilities in-house to streamline stablecoin management.
Coinbase said at the time that it would purchase a stake in Circle. The leading US cryptocurrency exchange became a publicly traded company in April 2021.
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