Stablecoin Circle Eyes $7.2B IPO Valuation

Circle Targets $7.2 Billion Valuation in Upcoming IPO

• Circle, issuer of the USDC stablecoin, aims for a $7.2 billion valuation in its IPO.
• The IPO price is set at approximately $28 per share.
• USDC is the second-largest USD-pegged stablecoin by market cap, after Tether’s USDT.
• BlackRock plans to acquire 10% of Circle’s shares upon availability.
• The current administration’s favorable crypto regulations partially influence the valuation target.

Circle is preparing for an initial public offering with a targeted valuation of $7.2 billion, pricing shares at about $28 each. BlackRock intends to purchase 10% of these shares when they become available.